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

Allurion Technologies Inc. (NYSE:ALUR) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 495,200 shares, a growth of 209.5% from the March 15th total of 160,000 shares. Based on an average daily volume of 2,670,000 shares, the short-interest ratio is currently 0.2 days. Currently, 9.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Chardan Capital restated a “neutral” rating and set a $2.50 target price on shares of Allurion Technologies in a report on Thursday, March 27th. Roth Mkm reissued a “buy” rating and set a $16.00 price objective on shares of Allurion Technologies in a research note on Friday, March 21st.

Insiders Place Their Bets

In other Allurion Technologies news, CEO Shantanu Gaur purchased 8,000 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were purchased at an average cost of $3.35 per share, with a total value of $26,800.00. Following the completion of the purchase, the chief executive officer now owns 8,000 shares in the company, valued at approximately $26,800. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 22.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC grew its position in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 516,330 shares of the company’s stock after purchasing an additional 149,484 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent SEC filing. Institutional investors and hedge funds own 21.39% of the company’s stock.

Allurion Technologies Price Performance

Shares of ALUR stock traded down $0.07 during trading on Tuesday, hitting $2.49. 18,312 shares of the stock traded hands, compared to its average volume of 709,789. The firm has a market capitalization of $11.94 million, a P/E ratio of -0.21 and a beta of -0.61. Allurion Technologies has a 52-week low of $2.15 and a 52-week high of $88.75. The firm’s fifty day moving average price is $3.35 and its 200-day moving average price is $8.53.

Allurion Technologies (NYSE:ALUR) last released its quarterly earnings results on Wednesday, March 26th. The company reported ($7.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.00) by ($2.00). The firm had revenue of $5.59 million during the quarter, compared to analyst estimates of $5.60 million. As a group, equities research analysts expect that Allurion Technologies will post -9.96 earnings per share for the current year.

About Allurion Technologies

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.