Silverarc Capital Management LLC Grows Stock Holdings in Elutia Inc. (NASDAQ:ELUT)

Silverarc Capital Management LLC raised its position in shares of Elutia Inc. (NASDAQ:ELUT - Free Report) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,782,271 shares of the company's stock after acquiring an additional 136,463 shares during the period. Elutia makes up about 1.5% of Silverarc Capital Management LLC's investment portfolio, making the stock its 25th largest position. Silverarc Capital Management LLC owned 5.16% of Elutia worth $6,666,000 at the end of the most recent reporting period.

Separately, Geode Capital Management LLC raised its position in Elutia by 50.3% in the 3rd 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 during the period. Institutional investors and hedge funds own 74.03% of the company's stock.

Elutia Trading Up 7.4 %

Shares of NASDAQ ELUT traded up $0.16 during mid-day trading on Friday, reaching $2.33. The company had a trading volume of 21,578 shares, compared to its average volume of 48,790. The stock has a market cap of $94.92 million, a price-to-earnings ratio of -0.89 and a beta of 0.96. Elutia Inc. has a 52 week low of $1.87 and a 52 week high of $5.24. The business's 50-day moving average is $2.76 and its 200-day moving average is $3.31.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Elutia

In other news, Director Highcape Capital, L.P. purchased 420,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were purchased at an average price of $2.50 per share, for a total transaction of $1,050,000.00. Following the completion of the purchase, the director now owns 9,520,232 shares in the company, valued at approximately $23,800,580. This represents a 4.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 27.60% 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.