Allurion Technologies’ (ALUR) Neutral Rating Reiterated at Chardan Capital

Allurion Technologies (NYSE:ALUR)‘s stock had its “neutral” rating reaffirmed by research analysts at Chardan Capital in a research note issued on Friday,Benzinga reports. They currently have a $2.50 target price on the stock. Chardan Capital’s target price would indicate a potential downside of 30.48% from the company’s previous close.

Allurion Technologies Stock Performance

Shares of ALUR stock opened at $3.60 on Friday. 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 $17.24 million, a PE ratio of -0.30 and a beta of -0.59. The firm’s 50 day moving average price is $4.00 and its two-hundred day moving average price is $10.14.

Hedge Funds Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC raised its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 516,330 shares of the company’s stock after acquiring 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 SEC filing. 21.39% of the stock is owned by institutional investors.

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.