Elutia (NASDAQ:ELUT) Price Target Lowered to $8.00 at Lake Street Capital

Elutia (NASDAQ:ELUT) had its price target reduced by Lake Street Capital from $10.00 to $8.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

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

Elutia Stock Performance

ELUT stock opened at $2.08 on Friday. Elutia has a one year low of $1.77 and a one year high of $5.24. The firm has a market cap of $84.73 million, a price-to-earnings ratio of -0.80 and a beta of 0.97. The firm has a 50-day simple moving average of $2.52 and a two-hundred day simple moving average of $3.19.

Elutia (NASDAQ:ELUT) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $6.03 million for the quarter, compared to analysts’ expectations of $6.65 million. As a group, equities analysts predict that Elutia will post -1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elutia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC grew its stake in shares of Elutia by 22.5% during the fourth quarter. AIGH Capital Management LLC now owns 3,074,675 shares of the company’s stock worth $11,499,000 after acquiring an additional 564,233 shares during the last quarter. Perkins Capital Management Inc. boosted its stake in Elutia by 32.1% in the 1st quarter. Perkins Capital Management Inc. now owns 1,136,377 shares of the company’s stock worth $2,875,000 after purchasing an additional 276,300 shares in the last quarter. 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 in the last quarter. 683 Capital Management LLC purchased a new stake in Elutia during the 4th quarter worth approximately $302,000. Finally, Geode Capital Management LLC increased its stake in Elutia by 50.3% during the 3rd quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after purchasing an additional 63,047 shares in the last quarter. 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.