Allurion Technologies Inc. (NYSE:ALUR) Short Interest Up 116.0% in April

Allurion Technologies Inc. (NYSE:ALUR) was the target of a large 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. Based on an average trading volume of 985,800 shares, the short-interest ratio is currently 0.6 days. Currently, 1.7% of the shares of the company are short sold.

Institutional Trading of Allurion Technologies

Several hedge funds have recently made changes to their positions in ALUR. Alpine Global Management LLC purchased a new position in shares of Allurion Technologies in the third quarter valued at $97,000. Accredited Investors Inc. purchased a new position in shares of Allurion Technologies in the third quarter valued at $161,000. Finally, RTW Investments LP purchased a new position in shares of Allurion Technologies in the third quarter valued at $14,868,000. 21.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on ALUR shares. Chardan Capital began coverage on Allurion Technologies in a research note on Thursday, April 4th. They set a “buy” rating and a $5.00 target price for the company. Jefferies Financial Group began coverage on Allurion Technologies in a research note on Friday, February 9th. They issued a “buy” rating and a $5.00 price objective for the company.

Allurion Technologies Stock Performance

Shares of ALUR traded up $0.07 during mid-day trading on Friday, hitting $1.92. The stock had a trading volume of 43,639 shares, compared to its average volume of 3,120,637. The business has a fifty day moving average price of $2.39 and a 200-day moving average price of $3.23. Allurion Technologies has a 52 week low of $1.56 and a 52 week high of $9.00.

Allurion Technologies (NYSE:ALUR) last issued its earnings results on Thursday, March 21st. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.12). The business had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $8.20 million. On average, equities research analysts forecast that Allurion Technologies will post -0.87 EPS 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.