Elutia (NASDAQ:ELUT) Price Target Lowered to $10.00 at Cantor Fitzgerald

Elutia (NASDAQ:ELUT) had its price target reduced by Cantor Fitzgerald from $11.00 to $10.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Lake Street Capital raised their price target on Elutia from $5.00 to $10.00 and gave the stock a buy rating in a report on Friday, June 21st.

Elutia Stock Performance

ELUT traded down $0.07 on Thursday, hitting $3.00. The company had a trading volume of 15,516 shares, compared to its average volume of 43,859. The stock has a fifty day moving average price of $3.81 and a 200-day moving average price of $3.48. Elutia has a 12-month low of $1.10 and a 12-month high of $5.24. The stock has a market capitalization of $72.82 million, a price-to-earnings ratio of -1.27 and a beta of 0.72.

Elutia (NASDAQ:ELUT) last posted its earnings results on Wednesday, August 7th. The company reported ($1.14) earnings per share (EPS) for the quarter. The business had revenue of $6.29 million during the quarter. Analysts forecast that Elutia will post -1.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Elutia

A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Elutia by 50.5% during the second quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock worth $266,000 after purchasing an additional 18,000 shares during the period. AIGH Capital Management LLC lifted its holdings in shares of Elutia by 288.8% during the second quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock worth $8,419,000 after purchasing an additional 1,260,750 shares during the period. Arcus Capital Partners LLC acquired a new stake in shares of Elutia during the second quarter worth about $50,000. Perkins Capital Management Inc. acquired a new stake in shares of Elutia during the first quarter worth about $2,512,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Elutia during the first quarter worth about $45,000. Institutional investors and hedge funds 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.