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

Allurion Technologies Inc. (NYSE:ALUR) was the target of a large 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. Based on an average daily volume of 27,600 shares, the short-interest ratio is presently 1.7 days. Approximately 2.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Chardan Capital lowered shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. TD Cowen started coverage on shares of Allurion Technologies in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $71.88.

Institutional Investors Weigh In On Allurion Technologies

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC acquired a new stake in Allurion Technologies Inc. (NYSE:ALUR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies accounts for about 0.5% of CVI Holdings LLC’s portfolio, making the stock its 28th largest position. CVI Holdings LLC owned about 1.09% of Allurion Technologies at the end of the most recent quarter. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Allurion Technologies Price Performance

ALUR traded up $0.04 during mid-day trading on Monday, hitting $3.86. The stock had a trading volume of 28,533 shares, compared to its average volume of 91,046. The stock’s fifty day simple moving average is $10.53 and its 200-day simple moving average is $16.23. The firm has a market capitalization of $9.99 million, a price-to-earnings ratio of -8.04 and a beta of -0.62. Allurion Technologies has a 1-year low of $3.50 and a 1-year high of $98.75.

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.