Elutia Inc. (NASDAQ:ELUT) Short Interest Down 62.4% in May

Elutia Inc. (NASDAQ:ELUT - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 7,300 shares, a decrease of 62.4% from the May 15th total of 19,400 shares. Based on an average daily trading volume, of 16,200 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the shares of the stock are sold short.

Elutia Stock Performance

Shares of NASDAQ:ELUT traded down $0.17 during trading hours on Wednesday, hitting $3.80. 30,921 shares of the company's stock traded hands, compared to its average volume of 21,012. Elutia has a 52 week low of $1.10 and a 52 week high of $4.39. The company's fifty day simple moving average is $3.13 and its two-hundred day simple moving average is $3.08. The company has a market cap of $92.23 million, a price-to-earnings ratio of -1.60 and a beta of 0.61.

Elutia (NASDAQ:ELUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.75) earnings per share for the quarter. The firm had revenue of $6.69 million for the quarter. On average, analysts anticipate that Elutia will post -1.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald decreased their target price on shares of Elutia from $6.00 to $5.00 and set an "overweight" rating for the company in a research report on Friday, May 10th.

Institutional Trading of Elutia

An institutional investor recently bought a new position in Elutia stock. Verdence Capital Advisors LLC acquired a new stake in shares of Elutia Inc. (NASDAQ:ELUT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,410 shares of the company's stock, valued at approximately $45,000. Verdence Capital Advisors LLC owned approximately 0.06% of Elutia at the end of the most recent quarter. 74.03% of the stock is owned by institutional investors.

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.

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