Allurion Technologies Inc. (NYSE:ALUR) Sees Large Decline in Short Interest

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

Allurion Technologies Stock Down 5.4 %

Shares of NYSE ALUR traded down $0.31 during midday trading on Thursday, hitting $5.41. The stock had a trading volume of 357,137 shares, compared to its average volume of 4,323,315. The business’s 50 day moving average is $7.71 and its 200-day moving average is $14.06. Allurion Technologies has a 52 week low of $2.37 and a 52 week high of $98.75. The company has a market cap of $14.02 million, a P/E ratio of -0.45 and a beta of -0.62.

Institutional Trading of Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC lifted its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 516,330 shares of the company’s stock after purchasing an additional 149,484 shares during the period. Geode Capital Management LLC owned about 0.80% of Allurion Technologies worth $317,000 at the end of the most recent reporting period. 21.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALUR. TD Cowen assumed coverage on shares of Allurion Technologies in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price objective on the stock. Chardan Capital cut shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. One 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $71.88.

About Allurion Technologies

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.