Short Interest in Allurion Technologies Inc. (NYSE:ALUR) Grows By 116.0%

Allurion Technologies Inc. (NYSE:ALUR) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 629,700 shares, a growth of 116.0% from the March 31st total of 291,500 shares. Based on an average daily trading volume, of 985,800 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

ALUR has been the subject of several recent research reports. Chardan Capital initiated coverage on shares of Allurion Technologies in a research report on Thursday, April 4th. They issued a “buy” rating and a $5.00 price target for the company. Jefferies Financial Group started coverage on shares of Allurion Technologies in a research report on Friday, February 9th. They issued a “buy” rating and a $5.00 price target for the company.

Allurion Technologies Stock Up 3.8 %

NYSE ALUR traded up $0.07 on Friday, hitting $1.92. 43,639 shares of the company were exchanged, compared to its average volume of 3,120,637. The stock has a fifty day moving average of $2.39 and a 200-day moving average of $3.23. Allurion Technologies has a 12 month low of $1.56 and a 12 month high of $9.00.

Allurion Technologies (NYSE:ALUR) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.12). The firm had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $8.20 million. As a group, sell-side analysts forecast that Allurion Technologies will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Accredited Investors Inc. bought a new stake in Allurion Technologies in the third quarter worth about $161,000. Alpine Global Management LLC bought a new stake in Allurion Technologies in the third quarter worth about $97,000. Finally, RTW Investments LP bought a new stake in Allurion Technologies in the third quarter worth about $14,868,000. 21.39% of the stock is owned by institutional investors.

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.