Allurion Technologies (NYSE:ALUR) Trading 1.6% Higher

Shares of Allurion Technologies Inc. (NYSE:ALUR) traded up 1.6% during trading on Thursday . The company traded as high as $1.90 and last traded at $1.86. 33,116 shares were traded during trading, a decline of 96% from the average session volume of 804,735 shares. The stock had previously closed at $1.83.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Chardan Capital assumed coverage on Allurion Technologies in a research note on Thursday, April 4th. They set a “buy” rating and a $5.00 price target on the stock. Jefferies Financial Group assumed coverage on Allurion Technologies in a research note on Friday, February 9th. They set a “buy” rating and a $5.00 price target on the stock.

Allurion Technologies Stock Performance

The stock has a 50-day moving average price of $2.41 and a 200-day moving average price of $3.26.

Allurion Technologies (NYSE:ALUR) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.12). The firm had revenue of $8.24 million during the quarter, compared to the consensus estimate of $8.20 million. On average, research analysts predict that Allurion Technologies Inc. will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Allurion Technologies

Hedge funds have recently made changes to their positions in the stock. Alpine Global Management LLC bought a new stake in Allurion Technologies in the third quarter worth approximately $97,000. Accredited Investors Inc. bought a new stake in Allurion Technologies in the third quarter worth approximately $161,000. Finally, RTW Investments LP bought a new stake in Allurion Technologies in the third quarter worth approximately $14,868,000. 21.39% of the stock is currently owned by institutional investors.

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.