Cantor Fitzgerald Expects Stronger Earnings for Elutia

Elutia Inc. (NASDAQ:ELUT) – Research analysts at Cantor Fitzgerald increased their FY2024 EPS estimates for Elutia in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will earn ($1.74) per share for the year, up from their prior estimate of ($1.76). Cantor Fitzgerald currently has a “Overweight” rating and a $10.00 target price on the stock. The consensus estimate for Elutia’s current full-year earnings is ($1.74) per share.

Elutia Trading Down 4.6 %

ELUT stock opened at $3.13 on Thursday. The stock has a market capitalization of $108.17 million, a P/E ratio of -1.20 and a beta of 0.89. Elutia has a 12 month low of $2.28 and a 12 month high of $5.24. The firm has a 50-day moving average price of $3.87 and a 200-day moving average price of $3.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arcus Capital Partners LLC raised its holdings in Elutia by 100.0% in the 3rd quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $76,000 after buying an additional 10,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Elutia by 50.5% in the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock valued at $266,000 after buying an additional 18,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in Elutia by 50.3% in the 3rd quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after buying an additional 63,047 shares during the last quarter. Perkins Capital Management Inc. raised its holdings in Elutia by 9.8% in the 3rd quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock valued at $3,263,000 after buying an additional 76,450 shares during the last quarter. Finally, Nantahala Capital Management LLC raised its holdings in Elutia by 8.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock valued at $8,907,000 after buying an additional 145,697 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

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.