Allurion Technologies, Inc. (NYSE:ALUR) Sees Significant Growth in Short Interest

Allurion Technologies, Inc. (NYSE:ALUR) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,065,645 shares, an increase of 124.0% from the February 12th total of 475,725 shares. Based on an average trading volume of 17,038,131 shares, the short-interest ratio is presently 0.1 days. Currently, 9.4% of the shares of the company are sold short. Currently, 9.4% of the shares of the company are sold short. Based on an average trading volume of 17,038,131 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. XTX Topco Ltd boosted its holdings in Allurion Technologies by 43.2% in the 2nd quarter. XTX Topco Ltd now owns 18,670 shares of the company’s stock worth $45,000 after buying an additional 5,633 shares during the last quarter. State Street Corp increased its stake in Allurion Technologies by 76.2% during the 4th quarter. State Street Corp now owns 26,135 shares of the company’s stock worth $32,000 after buying an additional 11,300 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Allurion Technologies during the fourth quarter valued at approximately $74,000. Heights Capital Management Inc. acquired a new position in shares of Allurion Technologies during the fourth quarter valued at approximately $74,000. Finally, Armistice Capital LLC purchased a new position in shares of Allurion Technologies in the fourth quarter valued at approximately $74,000. Institutional investors and hedge funds own 21.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ALUR. Chardan Capital set a $3.00 price objective on Allurion Technologies and gave the company a “buy” rating in a research note on Tuesday, February 24th. Loop Capital set a $3.00 target price on Allurion Technologies in a research note on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Allurion Technologies in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Allurion Technologies has an average rating of “Hold” and an average target price of $7.33.

Allurion Technologies Stock Performance

NYSE:ALUR opened at $0.37 on Friday. The stock has a market capitalization of $4.54 million, a PE ratio of -0.04 and a beta of -0.42. Allurion Technologies has a fifty-two week low of $0.23 and a fifty-two week high of $4.18. The company has a fifty day moving average of $1.24 and a two-hundred day moving average of $1.60.

Allurion Technologies Company Profile

Allurion Technologies is a medical technology company specializing in non-surgical weight-loss solutions. The company’s flagship product, the Allurion Gastric Balloon, is a swallowable, fluid-filled device designed to promote weight loss by creating a sense of fullness in the stomach. Unlike traditional intragastric balloons, the Allurion device does not require endoscopic insertion or removal, as it self-deflates and is naturally expelled after treatment, simplifying the patient experience and reducing clinical resource requirements.

In addition to its gastric balloon, Allurion has developed a comprehensive digital health platform that integrates wireless tracking devices, a mobile application, and remote coaching to support patients throughout their weight-loss journey.