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

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

Wall Street Analysts Forecast Growth

ALUR has been the subject of several analyst reports. Chardan Capital cut Allurion Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. TD Cowen started coverage on Allurion Technologies in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Allurion Technologies has an average rating of “Buy” and an average target price of $71.88.

Institutional Investors Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC increased its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516,330 shares of the company’s stock after acquiring an additional 149,484 shares during the quarter. Geode Capital Management LLC owned approximately 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.

Allurion Technologies Stock Performance

Allurion Technologies stock opened at $5.38 on Wednesday. The company has a market capitalization of $13.94 million, a P/E ratio of -0.45 and a beta of -0.62. Allurion Technologies has a fifty-two week low of $2.37 and a fifty-two week high of $98.75. The stock has a 50-day simple moving average of $7.97 and a 200-day simple moving average of $14.18.

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.