Allurion Technologies (NYSE:ALUR) Cut to Neutral at Chardan Capital

Chardan Capital downgraded shares of Allurion Technologies (NYSE:ALUR) from a buy rating to a neutral rating in a research note released on Thursday morning, MarketBeat.com reports.

A number of other equities research analysts have also recently weighed in on ALUR. Roth Capital raised Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. TD Cowen started coverage on Allurion Technologies in a report on Wednesday, October 2nd. They set a “buy” rating and a $2.00 price target on the stock. Finally, Roth Mkm started coverage on shares of Allurion Technologies in a research report on Friday, September 6th. They issued a “buy” rating and a $2.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $2.88.

Allurion Technologies Price Performance

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

Institutional Trading of Allurion Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Allurion Technologies by 40.7% in the 3rd quarter. Geode Capital Management LLC now owns 516,330 shares of the company’s stock valued at $317,000 after purchasing an additional 149,484 shares during the period. CVI Holdings LLC purchased a new stake in Allurion Technologies during the second quarter valued at about $520,000. Finally, Accredited Investors Inc. boosted its holdings 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 worth $50,000 after buying an additional 12,500 shares during the period. 21.39% of the stock is owned by institutional investors and hedge funds.

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.