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

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

Hedge Funds Weigh In On Elutia

Several large investors have recently added to or reduced their stakes in ELUT. Jane Street Group LLC bought a new position in Elutia in the 1st quarter valued at about $29,000. Renaissance Technologies LLC bought a new position in Elutia in the 1st quarter valued at about $33,000. Geode Capital Management LLC lifted its position in Elutia by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 14,112 shares of the company’s stock valued at $59,000 after acquiring an additional 3,435 shares in the last quarter. Prosight Management LP lifted its position in Elutia by 65.1% in 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 in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Elutia in the 4th quarter valued at about $1,062,000. Institutional investors own 74.03% of the company’s stock.

Elutia Stock Performance

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

About Elutia

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.