Alyeska Investment Group L.P. Buys 2,000,000 Shares of Elutia Inc. $ELUT

Alyeska Investment Group L.P. boosted its stake in Elutia Inc. (NASDAQ:ELUT - Free Report) by 310.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,643,445 shares of the company's stock after acquiring an additional 2,000,000 shares during the period. Alyeska Investment Group L.P. owned 6.49% of Elutia worth $6,688,000 at the end of the most recent quarter.Several other institutional investors have also added to or reduced their stakes in ELUT. OMERS ADMINISTRATION Corp acquired a new stake in shares of Elutia during the 1st quarter worth approximately $28,000. Arcus Capital Partners LLC acquired a new position in shares of Elutia during the first quarter worth approximately $51,000. Northern Trust Corp raised its position in Elutia by 30.0% in the 4th 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 last quarter. Citadel Advisors LLC purchased a new stake in Elutia in the 4th quarter valued at $84,000. Finally, Millennium Management LLC raised its position in Elutia by 16.4% in the 4th 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 last quarter. 74.03% of the stock is currently owned by institutional investors. Elutia Stock PerformanceELUT stock opened at $1.88 on Friday. The company has a market capitalization of $79.71 million, a price-to-earnings ratio of -1.77 and a beta of 0.89. Elutia Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $5.12. The stock has a fifty day moving average of $2.10 and a 200-day moving average of $2.25. Elutia (NASDAQ:ELUT - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.26) EPS 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 analyst estimates of $6.55 million. Equities analysts predict that Elutia Inc. will post -1.74 EPS for the current year. Analyst Upgrades and DowngradesSeparately, Lake Street Capital decreased their target price on Elutia from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $8.00.Get Our Latest Report on ELUTElutia Profile (Free Report)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.Read MoreFive stocks we like better than ElutiaWhat Does a Gap Up Mean in Stocks? How to Play the GapWhy DocuSign Could Be a SaaS Value Play After Q2 EarningsWhat Are Treasury Bonds?Lululemon Share Price Has Plenty of Room Left to FallDividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness Advanced Micro Devices' 2026 Forecasts Are Way Too LowWant to see what other hedge funds are holding ELUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elutia Inc. (NASDAQ:ELUT - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Elutia Right Now?Before you consider Elutia, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elutia wasn't on the list.While Elutia currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here