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.com reports.

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

Allurion Technologies Price Performance

Shares of ALUR traded down $0.08 during trading hours on Thursday, reaching $0.32. 761,091 shares of the company traded hands, compared to its average volume of 728,092. Allurion Technologies has a 12-month low of $0.31 and a 12-month high of $4.54. The business has a fifty day moving average price of $0.68 and a 200-day moving average price of $1.05.

Allurion Technologies (NYSE:ALUR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $11.77 million for the quarter. On average, equities research analysts predict that Allurion Technologies will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC purchased a new position in shares of Allurion Technologies Inc. (NYSE:ALUR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies comprises about 0.5% of CVI Holdings LLC’s investment portfolio, making the stock its 28th largest position. CVI Holdings LLC owned 1.09% of Allurion Technologies as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.