Elutia Inc. (NASDAQ:ELUT) Short Interest Up 29.8% in January

Elutia Inc. (NASDAQ:ELUT - Get Free Report) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 67,000 shares, an increase of 29.8% from the December 31st total of 51,600 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 40,300 shares, the short-interest ratio is currently 1.7 days.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 target price on shares of Elutia in a research report on Friday, November 15th.

Elutia Stock Down 5.1 %

ELUT traded down $0.14 during midday trading on Tuesday, reaching $2.62. 37,448 shares of the company's stock were exchanged, compared to its average volume of 34,770. The business has a 50-day simple moving average of $3.73 and a two-hundred day simple moving average of $3.73. The firm has a market capitalization of $90.55 million, a price-to-earnings ratio of -1.00 and a beta of 0.87. Elutia has a one year low of $2.28 and a one year high of $5.24.

Institutional Trading of Elutia

Institutional investors have recently bought and sold shares of the stock. Arcus Capital Partners LLC boosted its stake in shares of Elutia by 100.0% in the 3rd quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company's stock valued at $76,000 after purchasing an additional 10,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in Elutia by 50.5% in the second 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 in the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 63,047 shares during the last quarter. Finally, Perkins Capital Management Inc. increased 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 buying an additional 76,450 shares in the last quarter. Institutional investors and hedge funds 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.