Elutia (NASDAQ:ELUT) Director David Colpman Acquires 15,500 Shares

Elutia Inc. (NASDAQ:ELUT) Director David Colpman bought 15,500 shares of the business’s stock in a transaction on Monday, November 17th. The shares were acquired at an average price of $0.74 per share, for a total transaction of $11,470.00. Following the completion of the transaction, the director owned 18,598 shares in the company, valued at approximately $13,762.52. This trade represents a 500.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Elutia Trading Down 5.4%

Shares of NASDAQ:ELUT traded down $0.04 during trading on Wednesday, hitting $0.66. 81,559 shares of the company’s stock were exchanged, compared to its average volume of 102,558. The firm has a market cap of $27.94 million, a P/E ratio of -0.62 and a beta of 0.78. The firm has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.61. Elutia Inc. has a 1-year low of $0.66 and a 1-year high of $5.12.

Elutia (NASDAQ:ELUT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.15. The business had revenue of $3.32 million during the quarter, compared to analyst estimates of $6.65 million. As a group, research analysts predict that Elutia Inc. will post -1.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ELUT shares. Wall Street Zen upgraded Elutia to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, October 8th. Finally, Lake Street Capital reduced their target price on Elutia from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.00.

Institutional Trading of Elutia

A number of large investors have recently made changes to their positions in ELUT. Arcus Capital Partners LLC lifted its holdings in shares of Elutia by 50.3% during the 2nd quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock valued at $59,000 after purchasing an additional 10,050 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Elutia during the 1st quarter worth approximately $28,000. XTX Topco Ltd acquired a new stake in Elutia during the 2nd quarter worth approximately $28,000. Jane Street Group LLC bought a new position in Elutia in the first quarter valued at approximately $48,000. Finally, Virtu Financial LLC acquired a new position in shares of Elutia in the third quarter valued at approximately $26,000. Institutional investors own 74.03% of the company’s stock.

Elutia Company 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.