Allurion Technologies Inc. (NYSE:ALUR – Get Free Report) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 629,700 shares, an increase of 116.0% from the March 31st total of 291,500 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average trading volume of 985,800 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Investors Weigh In On Allurion Technologies
Several hedge funds have recently modified their holdings of ALUR. Alpine Global Management LLC acquired a new stake in shares of Allurion Technologies in the third quarter worth approximately $97,000. Accredited Investors Inc. purchased a new stake in Allurion Technologies during the third quarter worth approximately $161,000. Finally, RTW Investments LP purchased a new stake in Allurion Technologies during the third quarter worth approximately $14,868,000. 21.39% of the stock is owned by institutional investors and hedge funds.
Allurion Technologies Trading Up 3.8 %
Shares of NYSE:ALUR traded up $0.07 during trading hours on Friday, reaching $1.92. The stock had a trading volume of 43,639 shares, compared to its average volume of 3,120,637. The firm’s 50 day moving average is $2.39 and its 200-day moving average is $3.23. Allurion Technologies has a 1 year low of $1.56 and a 1 year high of $9.00.
Analyst Ratings Changes
ALUR has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Allurion Technologies in a research note on Friday, February 9th. They set a “buy” rating and a $5.00 target price for the company. Chardan Capital started coverage on shares of Allurion Technologies in a research note on Thursday, April 4th. They set a “buy” rating and a $5.00 target price for the company.
View Our Latest Analysis on ALUR
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.
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