Short Interest in Allurion Technologies, Inc. (NYSE:ALUR) Increases By 124.0%

Allurion Technologies, Inc. (NYSE:ALUR) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 1,065,645 shares, a growth of 124.0% from the February 12th total of 475,725 shares. Approximately 9.4% of the company’s stock are short sold. Based on an average daily volume of 17,038,131 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 17,038,131 shares, the days-to-cover ratio is currently 0.1 days. Approximately 9.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Allurion Technologies in a research note on Wednesday, January 21st. Loop Capital set a $3.00 price objective on shares of Allurion Technologies in a research report on Tuesday, February 24th. Finally, Chardan Capital set a $3.00 target price on shares of Allurion Technologies and gave the company a “buy” rating in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Allurion Technologies currently has an average rating of “Hold” and a consensus price target of $7.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALUR. XTX Topco Ltd grew its holdings in shares of Allurion Technologies by 43.2% during the second quarter. XTX Topco Ltd now owns 18,670 shares of the company’s stock valued at $45,000 after buying an additional 5,633 shares during the last quarter. State Street Corp lifted its position 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 acquiring an additional 11,300 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Allurion Technologies during the 4th quarter valued at about $74,000. Heights Capital Management Inc. purchased a new stake in Allurion Technologies during the 4th quarter valued at about $74,000. Finally, Armistice Capital LLC acquired a new position in shares of Allurion Technologies in the fourth quarter valued at about $74,000. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Allurion Technologies Stock Performance

Shares of ALUR stock opened at $0.26 on Thursday. Allurion Technologies has a fifty-two week low of $0.23 and a fifty-two week high of $4.18. The firm has a market capitalization of $3.19 million, a price-to-earnings ratio of -0.02 and a beta of -0.42. The stock’s 50-day simple moving average is $1.27 and its 200-day simple moving average is $1.62.

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.