Elutia Inc. (NASDAQ:ELUT) Sees Large Increase in Short Interest

Elutia Inc. (NASDAQ:ELUT) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 15,326 shares, a growth of 63.8% from the September 30th total of 9,359 shares. Based on an average daily volume of 788,498 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Elutia from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has an average rating of “Sell”.

Elutia Stock Performance

Shares of ELUT opened at $0.84 on Tuesday. The firm has a market cap of $37.25 million, a P/E ratio of 0.87 and a beta of 0.84. Elutia has a 52 week low of $0.50 and a 52 week high of $1.39. The firm’s 50-day simple moving average is $0.83 and its 200 day simple moving average is $0.97.

Elutia (NASDAQ:ELUT) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Elutia had a negative return on equity of 407.37% and a net margin of 426.93%. The firm had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.90 million.

Institutional Trading of Elutia

A hedge fund recently raised its stake in Elutia stock. Rossmore Private Capital increased its position in shares of Elutia Inc. (NASDAQ:ELUT) by 140.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,000 shares of the company’s stock after acquiring an additional 70,000 shares during the period. Rossmore Private Capital owned about 0.28% of Elutia worth $126,000 at the end of the most recent reporting period. 74.03% of the stock is currently owned by institutional investors.

Elutia Company Profile

Elutia Inc is a medical technology company focused on developing and commercializing biologic products designed to support tissue healing and improve the performance of implantable medical devices. The company combines human tissue-based materials with drug-delivery and regenerative medicine technologies.

Its product portfolio includes biologic envelopes used to protect and support cardiac implantable electronic devices, including pacemakers and defibrillators. Elutia also develops tissue matrices and other biologic products for orthopedic, wound care and related surgical applications, with products intended to support soft-tissue repair, reconstruction and healing.

The company was formerly known as Aziyo Biologics and adopted the Elutia name as part of its broader focus on bioelectronic medicine and regenerative healthcare.