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

Allurion Technologies Inc. (NYSE:ALUR) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 46,700 shares, a decline of 95.6% from the December 15th total of 1,060,000 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average trading volume of 27,600 shares, the days-to-cover ratio is presently 1.7 days.

Hedge Funds Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC raised its position in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 516,330 shares of the company’s stock after acquiring 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 SEC filing. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Chardan Capital cut shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. TD Cowen assumed 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. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Allurion Technologies has an average rating of “Buy” and a consensus price target of $71.88.

Allurion Technologies Trading Up 5.4 %

NYSE ALUR traded up $0.16 during trading on Tuesday, reaching $3.13. The company’s stock had a trading volume of 388,562 shares, compared to its average volume of 149,644. The business has a 50-day moving average price of $9.96 and a 200-day moving average price of $15.87. Allurion Technologies has a 1-year low of $2.72 and a 1-year high of $98.75. The stock has a market capitalization of $8.11 million, a PE ratio of -6.52 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.