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Elutia

ELUT on Nasdaq. Market value $65m.

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Should I look at this?

We have not checked this company yet

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 39 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

  • Kevin Rakin
    Passive investor
    at least 26.4%
    (filed with 4 related holders)
    Since 3 February 2025
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented by inserting the following information at the end of Item 4: Purchase Agreement On February 4, 2025 (the "Closing Date"), pursuant to that certain Securities Purchase Agreement, dated February 3, 2025 (the "Purchase…

    Read the filing
  • Kevin Rakin
    Passive investor
    at least 13.0%−0.2 pts
    (filed with 9 related holders)
    Since 11 December 2025
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented by inserting the following information at the end of Item 4: Pro Rata Distribution On December 11, 2025, HighCape Partners, L.P., HighCape Partners QP, L.P., HighCape Co-Investment Vehicle I, LLC and HighCape…

    Read the filing
  • at least 10.0%0.0 pts
    (filed with 2 related holders)
    Since 31 December 2025
  • Orin Hirschman
    Passive investor
    at least 7.6%−2.3 pts
    (filed with 1 related holder)
    Since 31 December 2025
  • 6.3%
    Since 31 December 2025
  • Devesh S. Gandhi
    Passive investor
    5.9%
    Since 31 December 2024
  • at least 4.9%0.0 pts
    (filed with 1 related holder)
    Since 30 June 2026
  • at least 3.2%−4.0 pts
    (filed with 2 related holders)
    Since 31 December 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 6 insiders bought $236,695 of shares on the open market.

  • NEELS GUIDO J
    Director
    Bought
    Date
    30 January 2026
    Shares
    20,000
    Price
    $1.04
    Value
    $20,800
  • RAKIN KEVIN
    Director
    Bought
    Date
    30 January 2026
    Shares
    70,000
    Price
    $1.06
    Value
    $74,200
  • NEELS GUIDO J
    Director
    Bought
    Date
    29 January 2026
    Shares
    15,000
    Price
    $1.06
    Value
    $15,900
  • NEELS GUIDO J
    Director
    Bought
    Date
    28 January 2026
    Shares
    15,000
    Price
    $1.06
    Value
    $15,900
  • RAKIN KEVIN
    Director
    Bought
    Date
    17 December 2025
    Shares
    50,000
    Price
    $0.52
    Value
    $26,000
  • Colpman David
    Director
    Bought
    Date
    17 December 2025
    Shares
    12,500
    Price
    $0.51
    Value
    $6,375
  • Makes Brigid
    Director
    Bought
    Date
    17 December 2025
    Shares
    25,000
    Price
    $0.52
    Value
    $13,000
  • Mills C Randal
    PRESIDENT AND CEO, Director
    Bought
    Date
    17 December 2025
    Shares
    3,000
    Price
    $0.51
    Value
    $1,530
  • Ferguson Matthew
    CHIEF FINANCIAL OFFICER
    Bought
    Date
    17 December 2025
    Shares
    60,000
    Price
    $0.53
    Value
    $31,800
  • Ferguson Matthew
    CHIEF FINANCIAL OFFICER
    Bought
    Date
    2 December 2025
    Shares
    5,500
    Price
    $0.67
    Value
    $3,685

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 13 Mar 2026, plus the 10-Q filed 14 Aug 2026 and 6 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.