Elutia (NASDAQ:ELUT) Stock Price Down 5.4% – What’s Next?

Shares of Elutia Inc. (NASDAQ:ELUT) were down 5.4% during trading on Thursday . The company traded as low as $2.95 and last traded at $3.15. Approximately 52,281 shares were traded during trading, an increase of 43% from the average daily volume of 36,565 shares. The stock had previously closed at $3.33.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Elutia in a research note on Friday, November 15th.

Elutia Stock Down 1.5 %

The company has a 50-day moving average of $3.27 and a 200 day moving average of $3.66. The stock has a market capitalization of $107.28 million, a PE ratio of -1.19 and a beta of 0.87.

Institutional Investors Weigh In On Elutia

A number of large investors have recently modified their holdings of the business. Northern Trust Corp lifted its stake in shares of Elutia by 30.0% in the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock worth $67,000 after buying an additional 4,148 shares in the last quarter. Arcus Capital Partners LLC raised its holdings in Elutia by 100.0% in the 3rd quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $76,000 after acquiring an additional 10,000 shares during the last quarter. Citadel Advisors LLC purchased a new position in Elutia in the 4th quarter worth approximately $84,000. Millennium Management LLC boosted its holdings in shares of Elutia by 16.4% during the 4th quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock worth $169,000 after purchasing an additional 6,386 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new stake in shares of Elutia in the fourth quarter valued at approximately $302,000. Hedge funds and other 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.