Geode Capital Management LLC Purchases 63,047 Shares of Elutia Inc. (NASDAQ:ELUT)

Geode Capital Management LLC increased its position in shares of Elutia Inc. (NASDAQ:ELUT) by 50.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 188,408 shares of the company’s stock after buying an additional 63,047 shares during the quarter. Geode Capital Management LLC’s holdings in Elutia were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ELUT. Arcus Capital Partners LLC raised its stake in Elutia by 100.0% during the 3rd quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $76,000 after purchasing an additional 10,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in Elutia by 50.5% during the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock valued at $266,000 after purchasing an additional 18,000 shares during the last quarter. Perkins Capital Management Inc. raised its stake in Elutia by 9.8% during the 3rd quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock valued at $3,263,000 after purchasing an additional 76,450 shares during the last quarter. Finally, Nantahala Capital Management LLC raised its stake in Elutia by 8.8% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock valued at $8,907,000 after purchasing an additional 145,697 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Elutia in a research note on Friday, November 15th.

Elutia Stock Performance

Shares of ELUT stock opened at $3.26 on Friday. Elutia Inc. has a 52-week low of $2.28 and a 52-week high of $5.24. The stock has a market cap of $112.67 million, a price-to-earnings ratio of -1.25 and a beta of 0.89. The firm has a fifty day moving average of $3.98 and a 200-day moving average of $3.88.

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.