Allurion Technologies Inc. (NYSE:ALUR) Short Interest Down 95.6% in January

Allurion Technologies Inc. (NYSE:ALUR) was the recipient of a large decline in short interest in the month of 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 trading volume of 27,600 shares, the short-interest ratio is currently 1.7 days. Approximately 2.4% of the shares of the company are sold short.

Allurion Technologies Trading Down 21.4 %

NYSE ALUR opened at $5.38 on Wednesday. The stock has a market capitalization of $13.94 million, a price-to-earnings ratio of -0.45 and a beta of -0.62. The business’s 50 day moving average is $7.97 and its two-hundred day moving average is $14.18. Allurion Technologies has a 12-month low of $2.37 and a 12-month high of $98.75.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALUR. Chardan Capital cut Allurion Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. TD Cowen assumed coverage on Allurion Technologies in a report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target for the company. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $71.88.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC lifted its stake in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the 3rd quarter, according to its most recent Form 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 period. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 21.39% of the company’s stock.

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.