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

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

ALUR has been the subject of a number of other research reports. TD Cowen began coverage on Allurion Technologies in a research report on Wednesday, October 2nd. They set a “buy” rating and a $2.00 price target for the company. Roth Capital upgraded shares of Allurion Technologies to a “strong-buy” rating in a research note on Friday, September 6th. Finally, Roth Mkm began coverage on shares of Allurion Technologies in a research report on Friday, September 6th. They set a “buy” rating and a $2.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $2.88.

Allurion Technologies Price Performance

ALUR opened at $0.34 on Thursday. The company has a market capitalization of $22.08 million, a price-to-earnings ratio of -0.71 and a beta of -0.37. The business’s 50-day moving average price is $0.67 and its two-hundred day moving average price is $1.03. Allurion Technologies has a 1 year low of $0.31 and a 1 year high of $4.54.

Institutional Trading of Allurion Technologies

Large investors have recently added to or reduced their stakes in the company. CVI Holdings LLC bought a new stake in shares of Allurion Technologies in the 2nd quarter valued at about $520,000. Geode Capital Management LLC increased its position in Allurion Technologies by 40.7% during 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. lifted its position in shares of Allurion Technologies by 33.3% in the second quarter. Accredited Investors Inc. now owns 50,000 shares of the company’s stock valued at $50,000 after buying an additional 12,500 shares during the last quarter. Institutional investors and hedge funds own 21.39% of the company’s stock.

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.