Elutia Inc. (NASDAQ:ELUT) Short Interest Down 29.8% in February

Elutia Inc. (NASDAQ:ELUT - Get Free Report) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 67,700 shares, a decline of 29.8% from the February 13th total of 96,400 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 41,100 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.00 price objective on shares of Elutia in a research note on Friday, March 7th.

Insider Activity at Elutia

In other Elutia news, Director Highcape Capital, L.P. bought 420,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $2.50 per share, with a total value of $1,050,000.00. Following the completion of the purchase, the director now directly owns 9,520,232 shares in the company, valued at $23,800,580. The trade was a 4.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 40.80% of the stock is currently owned by insiders.

Institutional Trading of Elutia

Several large investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC lifted its position in shares of Elutia by 22.5% during the fourth quarter. AIGH Capital Management LLC now owns 3,074,675 shares of the company's stock worth $11,499,000 after purchasing an additional 564,233 shares in the last quarter. Silverarc Capital Management LLC lifted its position in shares of Elutia by 8.3% during the fourth quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company's stock worth $6,666,000 after purchasing an additional 136,463 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 63,047 shares in the last quarter. 683 Capital Management LLC acquired a new position in shares of Elutia during the fourth quarter worth approximately $302,000. Finally, Millennium Management LLC lifted its position in shares of Elutia by 16.4% during the fourth quarter. Millennium Management LLC now owns 45,217 shares of the company's stock worth $169,000 after purchasing an additional 6,386 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

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Elutia Stock Performance

Elutia stock traded down $0.04 during trading hours on Thursday, hitting $3.24. 50,693 shares of the stock were exchanged, compared to its average volume of 45,498. The stock has a market capitalization of $111.98 million, a P/E ratio of -1.24 and a beta of 0.86. Elutia has a 12 month low of $2.28 and a 12 month high of $5.24. The business's 50-day moving average is $3.03 and its two-hundred day moving average is $3.59.

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.