Elutia Inc. $ELUT Shares Purchased by AIGH Capital Management LLC

AIGH Capital Management LLC boosted its holdings in Elutia Inc. (NASDAQ:ELUT) by 17.2% during the 1st quarter, Holdings Channel reports. The fund owned 3,595,250 shares of the company’s stock after acquiring an additional 527,065 shares during the quarter. Elutia comprises 0.5% of AIGH Capital Management LLC’s portfolio, making the stock its 27th largest holding. AIGH Capital Management LLC owned 0.08% of Elutia worth $3,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in shares of Elutia in the fourth quarter worth $25,000. Virtu Financial LLC bought a new stake in shares of Elutia during the 3rd quarter worth about $26,000. XTX Topco Ltd acquired a new stake in shares of Elutia in the 2nd quarter worth approximately $28,000. Rossmore Private Capital acquired a new stake in shares of Elutia in the 4th quarter worth approximately $35,000. Finally, Jane Street Group LLC bought a new position in shares of Elutia in the first quarter valued at approximately $48,000. Institutional investors own 74.03% of the company’s stock.

Elutia Stock Up 1.6%

NASDAQ:ELUT opened at $0.97 on Thursday. The business’s 50-day moving average price is $1.03 and its 200 day moving average price is $1.00. The firm has a market cap of $41.71 million, a P/E ratio of 1.13 and a beta of 0.85. Elutia Inc. has a 52-week low of $0.50 and a 52-week high of $2.64.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The business had revenue of $3.11 million for the quarter, compared to analysts’ expectations of $3.00 million.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Wall Street Zen upgraded Elutia from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.00.

About Elutia

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.