Wall Street Zen Downgrades Allurion Technologies (NYSE:ALUR) to Strong Sell

Allurion Technologies (NYSE:ALUR) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued on Saturday.

Separately, Zacks Research raised Allurion Technologies to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.83.

Allurion Technologies Trading Down 3.4%

Shares of NYSE:ALUR opened at $2.41 on Friday. Allurion Technologies has a 1-year low of $2.15 and a 1-year high of $22.25. The firm has a market capitalization of $17.94 million, a PE ratio of -0.19 and a beta of -0.45. The business’s 50 day moving average is $2.71 and its 200-day moving average is $3.03.

Allurion Technologies (NYSE:ALUR) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of ($1.53) by $1.96. The firm had revenue of $5.58 million for the quarter, compared to analyst estimates of $5.50 million. On average, sell-side analysts predict that Allurion Technologies will post -9.96 EPS for the current year.

Institutional Trading of Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. XTX Topco Ltd increased its stake in shares of Allurion Technologies, Inc. (NYSE:ALUR) by 43.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,670 shares of the company’s stock after buying an additional 5,633 shares during the quarter. XTX Topco Ltd owned 0.25% of Allurion Technologies worth $45,000 at the end of the most recent reporting period. 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.