Elutia (NASDAQ:ELUT) Stock Price Down 2% – Time to Sell?

Elutia Inc. (NASDAQ:ELUT) shares traded down 2% during trading on Tuesday . The company traded as low as $0.9550 and last traded at $0.97. 61,525 shares traded hands during trading, a decline of 41% from the average session volume of 104,541 shares. The stock had previously closed at $0.9902.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen raised Elutia from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings raised Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Elutia currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Elutia Price Performance

The company has a market capitalization of $41.50 million, a price-to-earnings ratio of 1.13 and a beta of 0.80. The business has a fifty day moving average price of $1.09 and a 200 day moving average price of $0.95.

Elutia (NASDAQ:ELUT) last announced its earnings results on Thursday, May 14th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The company had revenue of $3.11 million during the quarter, compared to analyst estimates of $3.00 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Elutia during the fourth quarter valued at about $25,000. Virtu Financial LLC bought a new position in Elutia during the third quarter valued at about $26,000. XTX Topco Ltd bought a new position in Elutia during the second quarter valued at about $28,000. Rossmore Private Capital bought a new position in Elutia during the fourth quarter valued at about $35,000. Finally, Jane Street Group LLC bought a new position in Elutia during the first quarter valued at about $48,000. Institutional investors 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.