Elutia’s (ELUT) “Overweight” Rating Reiterated at Cantor Fitzgerald

Elutia (NASDAQ:ELUT)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 157.73% from the company’s previous close.

Elutia Stock Up 1.3 %

Shares of Elutia stock traded up $0.05 on Friday, reaching $3.88. The company’s stock had a trading volume of 482 shares, compared to its average volume of 41,701. The company has a market capitalization of $132.15 million, a price-to-earnings ratio of -1.33 and a beta of 0.76. Elutia has a 52 week low of $1.39 and a 52 week high of $5.24. The firm’s fifty day simple moving average is $3.75 and its two-hundred day simple moving average is $3.67.

Institutional Trading of Elutia

Institutional investors have recently made changes to their positions in the stock. Arcus Capital Partners LLC purchased a new position in shares of Elutia during the second quarter valued at approximately $50,000. AIGH Capital Management LLC raised its stake in Elutia by 288.8% during the 2nd quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock valued at $8,419,000 after buying an additional 1,260,750 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Elutia by 50.5% during the 2nd 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 during the period. Nantahala Capital Management LLC boosted its stake in shares of Elutia by 8.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock worth $8,907,000 after buying an additional 145,697 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its holdings in shares of Elutia by 9.8% in the third quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock worth $3,263,000 after acquiring an additional 76,450 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

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.