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

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

Institutional Trading of Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC boosted its stake in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the 3rd 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 buying an additional 149,484 shares during the period. Geode Capital Management LLC owned 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. 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 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Allurion Technologies presently has a consensus rating of “Buy” and a consensus target price of $71.88.

Allurion Technologies Trading Up 13.8 %

ALUR traded up $0.43 on Wednesday, hitting $3.57. 190,125 shares of the company’s stock were exchanged, compared to its average volume of 154,148. The stock has a fifty day moving average of $9.66 and a two-hundred day moving average of $15.79. Allurion Technologies has a twelve month low of $2.72 and a twelve month high of $98.75. The firm has a market cap of $230.06 million, a PE ratio of -7.45 and a beta of -0.56.

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.