Allurion Technologies Inc. (NYSE:ALUR – Get Free Report)’s stock price traded down 3.8% on Wednesday . The company traded as low as $0.68 and last traded at $0.71. 166,539 shares were traded during mid-day trading, a decline of 78% from the average session volume of 769,056 shares. The stock had previously closed at $0.74.
Analyst Upgrades and Downgrades
A number of research analysts have commented on ALUR shares. Roth Mkm initiated coverage on shares of Allurion Technologies in a research report on Friday, September 6th. They set a “buy” rating and a $2.00 target price on the stock. TD Cowen began 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. Chardan Capital lowered their target price on Allurion Technologies from $5.00 to $2.50 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Roth Capital upgraded Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Allurion Technologies currently has an average rating of “Buy” and an average target price of $2.88.
Read Our Latest Report on Allurion Technologies
Allurion Technologies Trading Down 3.8 %
Allurion Technologies (NYSE:ALUR – Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The firm had revenue of $11.77 million for the quarter. As a group, research analysts forecast that Allurion Technologies Inc. will post -0.4 EPS for the current fiscal year.
Hedge Funds Weigh In On Allurion Technologies
An institutional investor recently bought a new position in Allurion Technologies stock. CVI Holdings LLC purchased a new stake in shares of Allurion Technologies Inc. (NYSE:ALUR – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies makes up 0.5% of CVI Holdings LLC’s portfolio, making the stock its 28th biggest position. CVI Holdings LLC owned 1.09% of Allurion Technologies at the end of the most recent reporting period. 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.
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