Short Interest in Allurion Technologies Inc. (NYSE:ALUR) Drops By 95.6%

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

Institutional Trading of 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% during the 3rd quarter, according to the company in its most recent 13F 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 quarter. Geode Capital Management LLC owned 0.80% of Allurion Technologies worth $317,000 at the end of the most recent quarter. 21.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALUR shares. TD Cowen initiated coverage on Allurion Technologies in a report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target on the stock. Chardan Capital cut shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $71.88.

Allurion Technologies Stock Performance

Shares of ALUR stock traded up $0.43 during mid-day trading on Wednesday, hitting $3.57. 190,125 shares of the stock traded hands, compared to its average volume of 154,148. Allurion Technologies has a twelve month low of $2.72 and a twelve month high of $98.75. The company’s 50-day simple moving average is $9.66 and its 200-day simple moving average is $15.79. The firm has a market cap of $230.06 million, a price-to-earnings 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.