Allurion Technologies, Inc. (NYSE:ALUR) Short Interest Up 124.0% in February

Allurion Technologies, Inc. (NYSE:ALUR) was the recipient of a significant increase in short interest during 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. Currently, 9.4% of the shares of the company are sold short. Based on an average daily trading volume, of 17,038,131 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 17,038,131 shares, the short-interest ratio is currently 0.1 days. Currently, 9.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Allurion Technologies

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

Wall Street Analysts Forecast Growth

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

Allurion Technologies Price Performance

ALUR opened at $0.26 on Thursday. The firm has a fifty day moving average price of $1.27 and a 200 day moving average price of $1.62. Allurion Technologies has a 1 year low of $0.23 and a 1 year high of $4.18. The stock has a market cap of $3.19 million, a P/E ratio of -0.02 and a beta of -0.42.

About Allurion Technologies

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.