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

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. Based on an average daily volume of 27,600 shares, the short-interest ratio is presently 1.7 days. Currently, 2.4% of the shares of the company are short sold.

Allurion Technologies Stock Performance

Shares of Allurion Technologies stock traded down $1.41 during trading hours on Tuesday, hitting $5.44. The company’s stock had a trading volume of 790,952 shares, compared to its average volume of 4,723,512. The business has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $14.33. Allurion Technologies has a 12-month low of $2.37 and a 12-month high of $98.75. The company has a market cap of $14.08 million, a PE ratio of -0.45 and a beta of -0.62.

Analysts Set New Price Targets

Several research firms recently weighed in on ALUR. TD Cowen initiated coverage on Allurion Technologies in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 target price on the stock. Chardan Capital downgraded Allurion Technologies from a “buy” rating to a “neutral” rating in a research 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’s stock. According to data from MarketBeat, Allurion Technologies has an average rating of “Buy” and an average target price of $71.88.

Institutional Investors Weigh In On Allurion Technologies

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

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.