OMERS ADMINISTRATION Corp Makes New $28,000 Investment in Elutia Inc. $ELUT

OMERS ADMINISTRATION Corp purchased a new position in Elutia Inc. (NASDAQ:ELUT) during the first quarter, Holdings Channel reports. The fund purchased 10,892 shares of the company’s stock, valued at approximately $28,000.

Other large investors have also bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Elutia by 30.0% during the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock valued at $67,000 after buying an additional 4,148 shares during the period. Arcus Capital Partners LLC purchased a new position in shares of Elutia during the first quarter valued at approximately $51,000. Citadel Advisors LLC purchased a new position in shares of Elutia during the fourth quarter valued at approximately $84,000. Millennium Management LLC increased its stake in shares of Elutia by 16.4% during the fourth 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 period. Finally, Knollwood Investment Advisory LLC increased its stake in shares of Elutia by 10.7% during the first quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company’s stock valued at $2,618,000 after buying an additional 100,000 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Elutia Stock Down 6.5%

NASDAQ ELUT opened at $1.88 on Friday. Elutia Inc. has a twelve month low of $1.61 and a twelve month high of $5.12. The firm has a market capitalization of $79.71 million, a PE ratio of -1.77 and a beta of 0.89. The stock’s 50 day moving average is $2.10 and its 200 day moving average is $2.25.

Elutia (NASDAQ:ELUT) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $6.26 million during the quarter, compared to the consensus estimate of $6.55 million. On average, research analysts anticipate that Elutia Inc. will post -1.74 earnings per share for the current year.

Analyst Ratings Changes

Separately, Lake Street Capital reduced their target price on Elutia from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Elutia presently has a consensus rating of “Buy” and an average price target of $8.00.

Elutia 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.