Elutia Inc. (Class A) (ELUT) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

The per the Roarable RQD rating, ELUT scores 31 out of 100 and carries a letter grade of E, with the verdict "Roarable Strong Sell — Forensic Risk / Avoid." The five pillars are:

• Fundamental Cash Engine (0 / 20): ROIC of -35% and FCF yield of 0%. This pillar contributes nothing to the score, meaning the core operating economics are not currently generating returns on capital or free cash.
• Whale 13F Flow (10 / 20): Institutional accumulation and options positioning are described as partially supportive, but the source does not itemize holder data (see Analyst View section).
• Insider Conviction (7 / 20): SEC Form 4 and Congressional PTR cluster flow are scored at a low level, indicating limited insider signal strength.
• Macro Regime Fit (7 / 20): Beta of 1.0 and sector sensitivity are scored modestly.
• Forensic Balance Sheet (7 / 20): Altman Z of 0.2, Piotroski F of 4/9, and Debt/Equity of 0.5 combine to a weak forensic profile.

For a prospective investor evaluating the stock today, the implication is that the rating signals elevated downside risk. The zero score on cash-generation metrics means the valuation case rests on factors outside current cash returns. Upside would require a meaningful shift in operating cash generation, which the rating does not currently show. The forensic balance-sheet pillar further suggests financial distress risk. Investors should treat this as a high-risk, forensically weak profile rather than a stable value candidate.

Elutia Inc. (Class A) (ELUT) is a NASDAQ-listed issuer. Per the profile, it operates in the Health Care sector, specifically Biotechnology: Biological Products (No Diagnostic Substances). The source data does not describe its products, customers, or specific revenue model. Per the profile, its market capitalization is $0.0B, which conflicts with the $36.0M shown in market data; the profile figure is rounded to zero billions. Not available in source data for product or customer detail.

Per the SEC financials, operating income was negative in all three reported periods, and free cash flow was negative throughout. FY 2025 shows net income of $53.4M against operating income of $-26.9M, a divergence the source does not explain. Per the market data, gross margin is 53.7%, operating margin is -60%, and net margin is 68%. The Altman Z-Score is 0.2 and the Piotroski F-Score is 4/9, both per the Roarable RQD rating. Debt/Equity is 0.5 per the same source. Balance sheet posture appears strained, with cash of $36.4M against negative free cash flow.

• Catalyst: Elutia is scheduled to report third-quarter 2026 financial results on Thursday, November 5, 2026 (per the news wire, Yahoo Finance).
• Market wire items: Three news items from Yahoo Finance, TradingView, and Yahoo Finance UK were flagged as "MARKET WIRE" with YELLOW light; the summaries are generic and contain no substantive fundamental detail.
• Proprietary signal (Butterfly Graph): An Accrual & Working Capital Watch with severity 92 and a BEARISH direction. Per the graph, net income growth of +198.9% diverged from operating cash flow growth of -97.8%, with a +296.7% cash conversion gap and non-cash current assets and receivables up +65.6% relative to revenue growth. The graph advises monitoring the upcoming 10-Q for cash realization.

• What explains FY 2025 net income of $53.4M when operating income was $-26.9M, and is it a one-time or non-operating item?
• What is the company's debt position in FY 2025, given debt is listed as N/A for that period?
• What are Elutia's products, commercial traction, and revenue sources?
• Will the Q3 2026 10-Q confirm or reverse the accrual and working-capital divergence flagged by the Butterfly Graph?
• What is the source of the discrepancy between the $0.0B profile market cap and the $36.0M market data figure?