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 published on Thursday morning, MarketBeat reports.

ALUR has been the topic of a number of other reports. Roth Mkm initiated coverage on Allurion Technologies in a research report on Friday, September 6th. They issued a “buy” rating and a $2.00 price objective on the stock. TD Cowen began coverage on Allurion Technologies in a report on Wednesday, October 2nd. They issued a “buy” rating and a $2.00 price target on the stock. Finally, Roth Capital upgraded Allurion Technologies to a “strong-buy” rating in a research report on Friday, September 6th. One 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’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $2.88.

Allurion Technologies Trading Down 14.3 %

Shares of ALUR stock 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’s 50 day moving average is $0.67 and its 200-day moving average is $1.03. The firm has a market capitalization of $22.08 million, a price-to-earnings ratio of -0.71 and a beta of -0.37.

Hedge Funds Weigh In On Allurion Technologies

Several hedge funds have recently added to or reduced their stakes in ALUR. 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 grew its holdings in Allurion Technologies by 40.7% during the third 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. Finally, Accredited Investors Inc. increased its stake in 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 purchasing an additional 12,500 shares in the last quarter. 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.