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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Elutia (NASDAQ:ELUT) in a research note published on Friday morning,Benzinga reports. They currently have a $8.00 price objective on the stock.

Elutia Price Performance

NASDAQ ELUT opened at $2.78 on Friday. The business’s fifty day moving average is $3.10 and its 200-day moving average is $3.64. The stock has a market capitalization of $96.08 million, a price-to-earnings ratio of -1.07 and a beta of 0.86. Elutia has a one year low of $2.28 and a one year high of $5.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its holdings in shares of Elutia by 30.0% in the 4th quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock worth $67,000 after purchasing an additional 4,148 shares during the period. Arcus Capital Partners LLC increased its position in Elutia by 100.0% in the third quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock worth $76,000 after buying an additional 10,000 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Elutia in the fourth quarter valued at $84,000. Millennium Management LLC lifted its position in shares of Elutia by 16.4% during the 4th quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock valued at $169,000 after buying an additional 6,386 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of Elutia during the 4th quarter valued at $302,000. 74.03% of the stock is currently owned by hedge funds and other 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.