Elutia (NASDAQ:ELUT) Given New $8.00 Price Target at Lake Street Capital

Elutia (NASDAQ:ELUT) had its target price lowered by Lake Street Capital from $10.00 to $8.00 in a report published on Friday,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

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

Elutia Price Performance

Shares of ELUT stock opened at $2.08 on Friday. The company has a market cap of $84.73 million, a PE ratio of -0.80 and a beta of 0.97. Elutia has a 1 year low of $1.77 and a 1 year high of $5.24. The stock’s 50 day simple moving average is $2.52 and its two-hundred day simple moving average is $3.19.

Elutia (NASDAQ:ELUT) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $6.03 million during the quarter, compared to the consensus estimate of $6.65 million. Equities research analysts expect that Elutia will post -1.74 EPS for the current year.

Hedge Funds Weigh In On Elutia

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Elutia by 50.3% during the third quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after purchasing an additional 63,047 shares during the period. AIGH Capital Management LLC boosted its position in Elutia by 22.5% in the 4th 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. Silverarc Capital Management LLC grew its stake in Elutia by 8.3% in the 4th quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock worth $6,666,000 after acquiring an additional 136,463 shares in the last quarter. Northern Trust Corp increased its position in shares of Elutia by 30.0% during the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock worth $67,000 after acquiring an additional 4,148 shares during the period. Finally, 683 Capital Management LLC bought a new stake in shares of Elutia during the fourth quarter valued at approximately $302,000. Institutional investors own 74.03% of the company’s stock.

About Elutia

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.