Kennedy Capital Management LLC Sells 54,319 Shares of Elutia Inc. (NASDAQ:ELUT)

Kennedy Capital Management LLC reduced its stake in shares of Elutia Inc. (NASDAQ:ELUT) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,739 shares of the company’s stock after selling 54,319 shares during the quarter. Kennedy Capital Management LLC owned 0.54% of Elutia worth $695,000 at the end of the most recent quarter.

Separately, AIGH Capital Management LLC lifted its stake in shares of Elutia by 22.5% in the fourth quarter. AIGH Capital Management LLC now owns 3,074,675 shares of the company’s stock valued at $11,499,000 after buying an additional 564,233 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Highcape Capital, L.P. acquired 420,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $2.50 per share, for a total transaction of $1,050,000.00. Following the completion of the purchase, the director now directly owns 9,520,232 shares of the company’s stock, valued at $23,800,580. The trade was a 4.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 40.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.00 price target on shares of Elutia in a report on Friday, March 7th.

Elutia Stock Performance

NASDAQ:ELUT opened at $2.01 on Tuesday. The company has a 50-day moving average of $2.83 and a 200-day moving average of $3.39. Elutia Inc. has a 52 week low of $1.87 and a 52 week high of $5.24. The company has a market capitalization of $81.88 million, a price-to-earnings ratio of -0.77 and a beta of 0.96.

Elutia Profile

Elutia Inc, a commercial-stage company, develops and commercializes drug-eluting biologics products for neurostimulation, wound care, and breast reconstruction in the United States. The company operates in three segments: Device Protection; Women's Health; and Cardiovascular. It offers CanGaroo Envelope, which is used to accommodate cardiac implantable electronic devices, such as pacemakers and internal defibrillators.