Allurion Technologies Inc. (NYSE:ALUR) Short Interest Update

Allurion Technologies Inc. (NYSE:ALUR) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 46,700 shares, a decrease of 95.6% from the December 31st total of 1,060,000 shares. Based on an average daily trading volume, of 27,600 shares, the short-interest ratio is presently 1.7 days. Approximately 2.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALUR. TD Cowen initiated coverage on Allurion Technologies in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target for the company. Chardan Capital downgraded shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $71.88.

Hedge Funds Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC boosted its position in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 516,330 shares of the company’s stock after purchasing an additional 149,484 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 21.39% of the company’s stock.

Allurion Technologies Trading Down 5.4 %

Shares of NYSE:ALUR traded down $0.31 during trading on Thursday, reaching $5.41. The company’s stock had a trading volume of 357,137 shares, compared to its average volume of 4,323,315. Allurion Technologies has a 12 month low of $2.37 and a 12 month high of $98.75. The firm’s 50 day simple moving average is $7.71 and its two-hundred day simple moving average is $14.06. The stock has a market capitalization of $14.02 million, a PE ratio of -0.45 and a beta of -0.62.

Allurion Technologies Company Profile

Allurion Technologies Inc focuses on ending obesity with a weight loss platform to treat people who are overweight. Its platform, the Allurion Program, features swallowable and procedure-less intragastric balloon for weight loss (the Allurion Balloon), as well as offers access to AI-powered remote patient monitoring tools, a proprietary behavior change program, secure messaging, and video telehealth that are delivered by the Allurion Virtual Care Suite.