Allurion Technologies Inc. (NYSE:ALUR) Short Interest Down 12.8% in July

Allurion Technologies Inc. (NYSE:ALUR) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 564,900 shares, a decrease of 12.8% from the July 15th total of 648,000 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,280,000 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Accredited Investors Inc. boosted its holdings in shares of Allurion Technologies Inc. (NYSE:ALUR) by 33.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,000 shares of the company’s stock after buying an additional 12,500 shares during the period. Accredited Investors Inc. owned approximately 0.10% of Allurion Technologies worth $50,000 as of its most recent filing with the Securities and Exchange Commission. 21.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Allurion Technologies in a research report on Wednesday, May 15th.

Allurion Technologies Trading Up 0.6 %

Shares of Allurion Technologies stock traded up $0.00 on Monday, reaching $0.66. 43,381 shares of the company were exchanged, compared to its average volume of 933,994. The stock has a fifty day moving average price of $1.08 and a 200-day moving average price of $1.85. The firm has a market capitalization of $31.83 million, a price-to-earnings ratio of -0.17 and a beta of -0.30. Allurion Technologies has a fifty-two week low of $0.64 and a fifty-two week high of $6.43.

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.