Short Interest in Allurion Technologies Inc. (NYSE:ALUR) Drops By 11.5%

Allurion Technologies Inc. (NYSE:ALUR) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 526,100 shares, a decrease of 11.5% from the May 31st total of 594,200 shares. Based on an average trading volume of 2,060,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 1.7% of the company’s shares are sold short.

Allurion Technologies Stock Performance

Shares of ALUR remained flat at $1.26 during mid-day trading on Wednesday. 443,424 shares of the stock traded hands, compared to its average volume of 1,122,877. The company has a 50-day moving average price of $1.68 and a 200-day moving average price of $2.43. Allurion Technologies has a 52-week low of $0.83 and a 52-week high of $9.00.

Allurion Technologies (NYSE:ALUR) last posted its earnings results on Tuesday, May 14th. The company reported $0.11 earnings per share for the quarter. The company had revenue of $9.39 million for the quarter. Equities research analysts forecast that Allurion Technologies will post -0.65 EPS for the current year.

Hedge Funds Weigh In On Allurion Technologies

A hedge fund recently bought a new stake in Allurion Technologies stock. RTW Investments LP acquired a new position in Allurion Technologies Inc. (NYSE:ALUR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,457,707 shares of the company’s stock, valued at approximately $14,868,000. RTW Investments LP owned about 11.24% of Allurion Technologies as of its most recent SEC filing. 21.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Allurion Technologies in a research report on Wednesday, May 15th.

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.