Elutia Inc. to Post FY2024 Earnings of ($1.37) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:ELUT)

Elutia Inc. (NASDAQ:ELUT) – Equities research analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for Elutia in a research note issued on Thursday, June 20th. Cantor Fitzgerald analyst R. Osborn now expects that the company will earn ($1.37) per share for the year, up from their previous estimate of ($1.38). Cantor Fitzgerald has a “Overweight” rating and a $11.00 price target on the stock. The consensus estimate for Elutia’s current full-year earnings is ($1.38) per share.

Separately, Lake Street Capital increased their target price on Elutia from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday.

Elutia Trading Up 11.7 %

ELUT opened at $3.91 on Monday. Elutia has a 12 month low of $1.10 and a 12 month high of $4.39. The company has a market cap of $94.90 million, a PE ratio of -1.65 and a beta of 0.61. The company has a 50 day moving average of $3.22 and a 200 day moving average of $3.17.

Elutia (NASDAQ:ELUT) last issued its earnings results on Thursday, May 9th. The company reported ($0.75) earnings per share for the quarter. The business had revenue of $6.69 million for the quarter.

Institutional Investors Weigh In On Elutia

A hedge fund recently bought a new stake in Elutia stock. Verdence Capital Advisors LLC acquired a new stake in shares of Elutia Inc. (NASDAQ:ELUT) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,410 shares of the company’s stock, valued at approximately $45,000. Verdence Capital Advisors LLC owned approximately 0.06% of Elutia at the end of the most recent quarter. Hedge funds and other 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.