Highcape Capital, L.P. Acquires 420,000 Shares of Elutia Inc. (NASDAQ:ELUT) Stock

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

Elutia Trading Down 2.2 %

ELUT opened at $3.18 on Friday. Elutia Inc. has a 12 month low of $2.28 and a 12 month high of $5.24. The stock has a fifty day moving average price of $3.04 and a 200-day moving average price of $3.61. The firm has a market cap of $109.91 million, a price-to-earnings ratio of -1.22 and a beta of 0.86.

Hedge Funds Weigh In On Elutia

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of Elutia by 50.3% during the third quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock worth $718,000 after buying an additional 63,047 shares during the period. Millennium Management LLC increased its position in shares of Elutia by 16.4% in the 4th quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock valued at $169,000 after acquiring an additional 6,386 shares during the period. Citadel Advisors LLC acquired a new stake in Elutia during the 4th quarter worth about $84,000. Northern Trust Corp grew its stake in Elutia by 30.0% during the 4th quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock valued at $67,000 after purchasing an additional 4,148 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new position in shares of Elutia in the fourth quarter valued at about $302,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.