Cantor Fitzgerald Forecasts Increased Earnings for Elutia

Elutia Inc. (NASDAQ:ELUT - Free Report) - Equities researchers at Cantor Fitzgerald increased their FY2024 earnings estimates for shares of Elutia in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will post earnings of ($1.74) per share for the year, up from their previous forecast of ($1.76). Cantor Fitzgerald has a "Overweight" rating and a $10.00 price objective on the stock. The consensus estimate for Elutia's current full-year earnings is ($1.76) per share.

Elutia Stock Down 0.3 %

Elutia stock traded down $0.01 during midday trading on Thursday, reaching $3.21. 9,833 shares of the stock traded hands, compared to its average volume of 32,953. Elutia has a 12 month low of $2.28 and a 12 month high of $5.24. The stock's fifty day moving average is $3.88 and its 200-day moving average is $3.81. The stock has a market cap of $110.94 million, a P/E ratio of -1.23 and a beta of 0.89.

Institutional Investors Weigh In On Elutia

A number of hedge funds have recently bought and sold shares of ELUT. Arcus Capital Partners LLC raised its position in shares of Elutia by 100.0% during the 3rd quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company's stock valued at $76,000 after buying an additional 10,000 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Elutia by 50.5% during the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company's stock valued at $266,000 after purchasing an additional 18,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in Elutia by 50.3% during the 3rd quarter. Geode Capital Management LLC now owns 188,408 shares of the company's stock valued at $718,000 after buying an additional 63,047 shares during the period. Perkins Capital Management Inc. lifted its position in Elutia by 9.8% in the third quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company's stock worth $3,263,000 after buying an additional 76,450 shares during the last quarter. Finally, Nantahala Capital Management LLC boosted its stake in Elutia by 8.8% during the second quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company's stock worth $8,907,000 after buying an additional 145,697 shares during the period. Hedge funds and other 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.