Elutia (NASDAQ:ELUT) Given Overweight Rating at Cantor Fitzgerald

Elutia (NASDAQ:ELUT)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report released on Friday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 134.74% from the stock’s current price.

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

Elutia Price Performance

Elutia stock opened at $4.26 on Friday. The firm has a market capitalization of $103.40 million, a P/E ratio of -1.80 and a beta of 0.72. Elutia has a one year low of $1.10 and a one year high of $5.24. The business has a fifty day moving average price of $3.89 and a 200-day moving average price of $3.48.

Elutia (NASDAQ:ELUT) last issued its earnings results on Wednesday, August 7th. The company reported ($1.14) EPS for the quarter. The business had revenue of $6.29 million during the quarter. Sell-side analysts expect that Elutia will post -3.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elutia

Institutional investors have recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC purchased a new position in shares of Elutia during the first quarter worth about $45,000. Arcus Capital Partners LLC purchased a new position in Elutia in the 2nd quarter worth approximately $50,000. Renaissance Technologies LLC increased its holdings in shares of Elutia by 50.5% in the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock worth $266,000 after buying an additional 18,000 shares during the last quarter. Perkins Capital Management Inc. purchased a new stake in shares of Elutia during the 1st quarter valued at $2,512,000. Finally, AIGH Capital Management LLC lifted its holdings in shares of Elutia by 288.8% during the 2nd quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock worth $8,419,000 after acquiring an additional 1,260,750 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

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.