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

Allurion Technologies Inc. (NYSE:ALUR) was the recipient of a large decrease in short interest in the month of 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 volume of 27,600 shares, the short-interest ratio is currently 1.7 days.

Analysts Set New Price Targets

Several equities analysts have commented on ALUR shares. Chardan Capital cut Allurion Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. TD Cowen initiated coverage on Allurion Technologies in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price for the company. One equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $71.88.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC bought a new position in shares of Allurion Technologies Inc. (NYSE:ALUR) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies makes up approximately 0.5% of CVI Holdings LLC’s investment portfolio, making the stock its 28th biggest position. CVI Holdings LLC owned approximately 1.09% of Allurion Technologies at the end of the most recent quarter. Institutional investors own 21.39% of the company’s stock.

Allurion Technologies Price Performance

Shares of ALUR traded up $0.16 during mid-day trading on Tuesday, reaching $3.13. The company had a trading volume of 388,562 shares, compared to its average volume of 149,644. The company has a market capitalization of $8.11 million, a P/E ratio of -6.52 and a beta of -0.62. Allurion Technologies has a twelve month low of $2.72 and a twelve month high of $98.75. The company’s 50-day moving average is $9.96 and its 200-day moving average is $15.87.

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.