Kennedy Capital Management LLC Has $695,000 Stake in Elutia Inc. (NASDAQ:ELUT)

Kennedy Capital Management LLC lowered its holdings in Elutia Inc. (NASDAQ:ELUT) by 22.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 185,739 shares of the company’s stock after selling 54,319 shares during the quarter. Kennedy Capital Management LLC’s holdings in Elutia were worth $695,000 as of its most recent filing with the SEC.

Separately, Geode Capital Management LLC lifted its position in Elutia by 50.3% during the 3rd quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock worth $718,000 after buying an additional 63,047 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Elutia Stock Down 7.4 %

Elutia stock opened at $2.01 on Tuesday. The business’s 50-day simple moving average is $2.83 and its 200 day simple moving average is $3.39. The stock has a market cap of $81.88 million, a price-to-earnings ratio of -0.77 and a beta of 0.96. Elutia Inc. has a 12-month low of $1.87 and a 12-month high of $5.24.

Insider Activity

In related news, Director Highcape Capital, L.P. purchased 420,000 shares of Elutia stock in a transaction dated Monday, February 3rd. The shares were acquired at an average cost of $2.50 per share, for a total transaction of $1,050,000.00. Following the transaction, the director now directly owns 9,520,232 shares of the company’s stock, valued at approximately $23,800,580. This trade represents a 4.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 40.80% of the company’s stock.

Analyst Ratings Changes

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

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.