Elutia Inc. (NASDAQ:ELUT) Director Acquires $1,050,000.00 in Stock

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

Elutia Trading Up 4.5 %

NASDAQ:ELUT opened at $3.25 on Friday. Elutia Inc. has a 1 year low of $2.28 and a 1 year high of $5.24. The stock has a 50-day moving average price of $3.05 and a two-hundred day moving average price of $3.61. The stock has a market cap of $112.33 million, a price-to-earnings ratio of -1.25 and a beta of 0.86.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Elutia

Several institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Elutia by 16.4% during the 4th quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock worth $169,000 after buying an additional 6,386 shares during the period. Citadel Advisors LLC bought a new stake in shares of Elutia during the fourth quarter worth $84,000. 683 Capital Management LLC acquired a new stake in shares of Elutia during the fourth quarter worth $302,000. Northern Trust Corp lifted its position in Elutia by 30.0% in the 4th quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock valued at $67,000 after acquiring an additional 4,148 shares in the last quarter. Finally, Silverarc Capital Management LLC boosted its stake in Elutia by 8.3% in the 4th quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock worth $6,666,000 after purchasing an additional 136,463 shares during the period. Institutional investors 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.