Elutia (NASDAQ:ELUT) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Elutia (NASDAQ:ELUT) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

Elutia Trading Down 7.0 %

Shares of Elutia stock traded down $0.27 during trading on Friday, hitting $3.56. 49,974 shares of the stock were exchanged, compared to its average volume of 41,925. Elutia has a 1-year low of $1.39 and a 1-year high of $5.24. The stock has a market capitalization of $121.25 million, a price-to-earnings ratio of -1.25 and a beta of 0.76. The company has a fifty day moving average price of $3.73 and a 200-day moving average price of $3.68.

Institutional Investors Weigh In On Elutia

A number of large investors have recently added to or reduced their stakes in ELUT. Arcus Capital Partners LLC acquired a new position in shares of Elutia in the second quarter valued at $50,000. Renaissance Technologies LLC grew its stake in Elutia by 50.5% in the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock valued at $266,000 after buying an additional 18,000 shares during the last quarter. Geode Capital Management LLC lifted its position in Elutia by 50.3% during the third quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock worth $718,000 after acquiring an additional 63,047 shares during the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of Elutia by 9.8% during the third quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock worth $3,263,000 after acquiring an additional 76,450 shares during the period. Finally, Nantahala Capital Management LLC grew its holdings in Elutia by 8.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock valued at $8,907,000 after buying an additional 145,697 shares in the last quarter. 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.