Allurion Technologies (NYSE:ALUR) Lowered to “Neutral” Rating by Chardan Capital

Chardan Capital cut shares of Allurion Technologies (NYSE:ALUR) from a buy rating to a neutral rating in a report published on Thursday, Marketbeat reports.

Several other analysts have also recently commented on the stock. Roth Capital upgraded shares of Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. Roth Mkm began coverage on shares of Allurion Technologies in a research note on Friday, September 6th. They set a “buy” rating and a $2.00 target price for the company. Finally, TD Cowen initiated coverage on shares of Allurion Technologies in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $2.00 price target on the stock. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $2.88.

Allurion Technologies Trading Down 14.3 %

Shares of NYSE ALUR opened at $0.34 on Thursday. Allurion Technologies has a one year low of $0.31 and a one year high of $4.54. The business has a 50-day moving average price of $0.67 and a two-hundred day moving average price of $1.03. The firm has a market capitalization of $22.08 million, a PE ratio of -0.71 and a beta of -0.37.

Institutional Investors Weigh In On Allurion Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. CVI Holdings LLC acquired a new stake in Allurion Technologies in the 2nd quarter worth approximately $520,000. Geode Capital Management LLC lifted its stake in shares of Allurion Technologies by 40.7% in the third quarter. Geode Capital Management LLC now owns 516,330 shares of the company’s stock worth $317,000 after buying an additional 149,484 shares during the last quarter. Finally, Accredited Investors Inc. boosted its holdings in shares of Allurion Technologies by 33.3% during the 2nd quarter. Accredited Investors Inc. now owns 50,000 shares of the company’s stock worth $50,000 after buying an additional 12,500 shares during the period. Institutional investors and hedge funds own 21.39% of the company’s stock.

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.