Elutia Inc. (NASDAQ:ELUT) Director Highcape Capital, L.P. Buys 420,000 Shares

Elutia Inc. (NASDAQ:ELUT) Director Highcape Capital, L.P. purchased 420,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average cost of $2.50 per share, with a total value of $1,050,000.00. Following the completion of the acquisition, the director now directly owns 9,520,232 shares of the company’s stock, valued at $23,800,580. The trade was a 4.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Elutia Stock Performance

Shares of ELUT opened at $3.25 on Friday. The business’s fifty day moving average price is $3.05 and its two-hundred day moving average price is $3.61. The firm has a market capitalization of $112.33 million, a price-to-earnings ratio of -1.25 and a beta of 0.86. Elutia Inc. has a 52 week low of $2.28 and a 52 week high of $5.24.

Hedge Funds Weigh In On Elutia

Hedge funds have recently added to or reduced their stakes in the company. AIGH Capital Management LLC raised its stake 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 buying an additional 564,233 shares during the last quarter. Silverarc Capital Management LLC boosted its stake in Elutia by 8.3% in the fourth quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock valued at $6,666,000 after acquiring an additional 136,463 shares during the last quarter. Geode Capital Management LLC grew 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 worth $718,000 after acquiring an additional 63,047 shares during the period. 683 Capital Management LLC bought a new stake in shares of Elutia during the 4th quarter valued at $302,000. Finally, Millennium Management LLC lifted its stake in shares of Elutia by 16.4% in the 4th quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock valued at $169,000 after purchasing an additional 6,386 shares during the period. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.00 target price on shares of Elutia in a research note on Friday, March 7th.

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.