Short Interest in Elutia Inc. (NASDAQ:ELUT) Decreases By 43.1%

Elutia Inc. (NASDAQ:ELUT) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 12,800 shares, a decrease of 43.1% from the February 29th total of 22,500 shares. Based on an average daily volume of 25,900 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the company’s stock are short sold.

Elutia Stock Performance

ELUT stock remained flat at $3.15 during mid-day trading on Thursday. The company’s stock had a trading volume of 3,001 shares, compared to its average volume of 24,511. Elutia has a 12 month low of $1.10 and a 12 month high of $4.19. The stock’s fifty day moving average is $3.56.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new position in shares of Elutia during the 4th quarter valued at about $1,062,000. Prosight Management LP increased its holdings in shares of Elutia by 65.1% during the 2nd quarter. Prosight Management LP now owns 324,425 shares of the company’s stock valued at $766,000 after acquiring an additional 127,982 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Elutia by 393.0% during the 2nd quarter. Geode Capital Management LLC now owns 69,569 shares of the company’s stock valued at $164,000 after acquiring an additional 55,457 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Elutia by 175.7% during the 2nd quarter. Renaissance Technologies LLC now owns 60,416 shares of the company’s stock valued at $143,000 after acquiring an additional 38,500 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Elutia during the 1st quarter valued at about $29,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Elutia Company Profile

Elutia Inc, a commercial-stage company, engages in developing and commercializing drug-eluting biomatrix technology to enhance surgical outcomes. It offers CanGaroo Envelope, which is used for the stabilization of implantable cardiac devices, such as pacemakers and defibrillators. The company also engages in the development of CanGaroo RM for delivery directly to the surgical site.