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

Allurion Technologies Inc. (NYSE:ALUR) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 125,700 shares, a decrease of 34.0% from the February 13th total of 190,500 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average trading volume of 1,400,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC grew its position in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 516,330 shares of the company’s stock after purchasing an additional 149,484 shares during the period. Geode Capital Management LLC owned about 0.80% of Allurion Technologies worth $317,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Allurion Technologies Price Performance

ALUR stock traded down $0.04 during trading on Friday, reaching $2.40. 34,477 shares of the company were exchanged, compared to its average volume of 394,735. The company has a 50-day moving average of $4.44 and a two-hundred day moving average of $10.62. The company has a market capitalization of $11.51 million, a price-to-earnings ratio of -0.20 and a beta of -0.59. Allurion Technologies has a twelve month low of $2.15 and a twelve month high of $98.75.

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.