Allurion Technologies (NYSE:ALUR) Given Buy Rating at Roth Mkm

Allurion Technologies (NYSE:ALUR)‘s stock had its “buy” rating reiterated by analysts at Roth Mkm in a report released on Friday,Benzinga reports. They presently have a $16.00 price objective on the stock. Roth Mkm’s price objective points to a potential upside of 344.94% from the company’s current price.

Separately, Chardan Capital reaffirmed a “neutral” rating and issued a $2.50 target price on shares of Allurion Technologies in a research report on Friday.

Allurion Technologies Price Performance

ALUR opened at $3.60 on Friday. The business’s 50-day moving average price is $4.00 and its two-hundred day moving average price is $10.14. Allurion Technologies has a 1 year low of $2.15 and a 1 year high of $98.75. The company has a market capitalization of $17.24 million, a price-to-earnings ratio of -0.30 and a beta of -0.59.

Institutional Trading of Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC lifted its stake 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 approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent SEC filing. 21.39% of the stock is currently owned by hedge funds and other institutional investors.

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.