Elutia (NASDAQ:ELUT) Stock Rating Upgraded by Wall Street Zen

Elutia (NASDAQ:ELUT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.00.

Elutia Trading Up 4.8%

NASDAQ ELUT opened at $1.10 on Friday. The business’s 50-day moving average price is $1.03 and its two-hundred day moving average price is $0.92. Elutia has a 12 month low of $0.50 and a 12 month high of $3.15. The firm has a market capitalization of $46.97 million, a PE ratio of 1.34 and a beta of 0.65.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $3.30 million during the quarter, compared to analyst estimates of $3.30 million. As a group, analysts forecast that Elutia will post -1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Elutia

In other news, Director Kevin Rakin bought 70,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were bought at an average cost of $1.06 per share, for a total transaction of $74,200.00. Following the acquisition, the director directly owned 196,120 shares in the company, valued at approximately $207,887.20. This trade represents a 55.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 105,000 shares of company stock worth $110,900 over the last quarter. 27.60% of the stock is owned by corporate insiders.

Institutional Trading of Elutia

Several hedge funds have recently bought and sold shares of the business. Deerfield Management Company L.P. acquired a new position in Elutia during the third quarter worth $1,221,000. XTX Topco Ltd bought a new position in shares of Elutia in the fourth quarter valued at $71,000. Renaissance Technologies LLC grew its holdings in shares of Elutia by 64.7% during the fourth quarter. Renaissance Technologies LLC now owns 102,116 shares of the company’s stock valued at $71,000 after buying an additional 40,123 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Elutia during the third quarter valued at about $50,000. Finally, Jane Street Group LLC bought a new stake in shares of Elutia during the first quarter worth about $48,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Elutia Company Profile

Elutia, Inc is a biopharmaceutical company focused on the development of novel nitric oxide therapies based on its proprietary polymeric nitric oxide platform. This technology is designed to enable sustained, controlled release of nitric oxide to targeted tissues, potentially overcoming the delivery challenges associated with gaseous nitric oxide and small‐molecule donors.

The company’s lead program is in preclinical development for pulmonary arterial hypertension, with additional research efforts aimed at other cardiovascular and respiratory conditions.