Short Interest in Allurion Technologies Inc. (NYSE:ALUR) Declines By 34.0%

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

Institutional Investors Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC raised its position in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 516,330 shares of the company’s stock after purchasing an additional 149,484 shares during the quarter. Geode Capital Management LLC owned about 0.80% of Allurion Technologies worth $317,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 21.39% of the company’s stock.

Allurion Technologies Trading Up 8.4 %

NYSE ALUR traded up $0.20 during trading hours on Monday, reaching $2.58. The company’s stock had a trading volume of 52,606 shares, compared to its average volume of 393,156. The business has a 50-day simple moving average of $4.44 and a 200 day simple moving average of $10.59. Allurion Technologies has a 52 week low of $2.15 and a 52 week high of $98.75. The stock has a market cap of $12.36 million, a PE ratio of -0.21 and a beta of -0.59.

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.