Jefferies Financial Group Initiates Coverage on Allurion Technologies (NYSE:ALUR)

Jefferies Financial Group assumed coverage on shares of Allurion Technologies (NYSE:ALURFree Report) in a research report released on Friday, MarketBeat reports. The firm issued a buy rating and a $5.00 price objective on the stock.

Allurion Technologies Trading Up 10.5 %

Shares of Allurion Technologies stock opened at $3.05 on Friday. Allurion Technologies has a 52-week low of $2.63 and a 52-week high of $9.00. The firm has a 50-day moving average price of $3.33.

Allurion Technologies (NYSE:ALURGet Free Report) last announced its quarterly earnings results on Monday, November 13th. The company reported ($0.61) earnings per share for the quarter. The firm had revenue of $18.20 million during the quarter.

Institutional Trading of Allurion Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Allurion Technologies during the third quarter valued at approximately $1,932,000. RTW Investments LP bought a new position in Allurion Technologies in the third quarter worth $14,868,000. Alpine Global Management LLC bought a new position in Allurion Technologies in the third quarter worth $97,000. Northern Trust Corp bought a new position in Allurion Technologies in the third quarter worth $267,000. Finally, Accredited Investors Inc. bought a new position in shares of Allurion Technologies during the third quarter valued at $161,000. Hedge funds and other institutional investors own 26.55% of the company’s stock.

Allurion Technologies Company Profile

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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) and 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.

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