Allurion Technologies (NYSE:ALUR) Trading Down 4.7% – What’s Next?

Shares of Allurion Technologies, Inc. (NYSE:ALUR) dropped 4.7% during trading on Wednesday . The stock traded as low as $0.7380 and last traded at $0.7626. Approximately 42,233 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 2,502,679 shares. The stock had previously closed at $0.80.

Analyst Upgrades and Downgrades

ALUR has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Allurion Technologies in a report on Wednesday, January 21st. Loop Capital set a $3.00 target price on shares of Allurion Technologies in a report on Tuesday, February 24th. Finally, Chardan Capital set a $3.00 target price on shares of Allurion Technologies and gave the company a “buy” rating in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.00.

Allurion Technologies Stock Performance

The company has a market capitalization of $9.36 million, a P/E ratio of -0.07 and a beta of -0.22. The firm’s fifty day moving average is $0.91 and its 200-day moving average is $1.41.

Institutional Investors Weigh In On Allurion Technologies

Several hedge funds have recently added to or reduced their stakes in ALUR. RTW Investments LP boosted its position in Allurion Technologies by 131.7% during the 4th quarter. RTW Investments LP now owns 5,891,430 shares of the company’s stock worth $7,246,000 after buying an additional 3,348,827 shares during the period. Lunt Capital Management Inc. acquired a new stake in Allurion Technologies during the 4th quarter worth approximately $205,000. Empery Asset Management LP acquired a new stake in Allurion Technologies during the 4th quarter worth approximately $74,000. Hudson Bay Capital Management LP acquired a new position in shares of Allurion Technologies in the 4th quarter worth approximately $74,000. Finally, Heights Capital Management Inc. acquired a new position in shares of Allurion Technologies in the 4th quarter worth approximately $74,000. 21.39% of the stock is currently owned by institutional investors and hedge funds.

Allurion Technologies Company Profile

Allurion Technologies is a medical technology company specializing in non-surgical weight-loss solutions. The company’s flagship product, the Allurion Gastric Balloon, is a swallowable, fluid-filled device designed to promote weight loss by creating a sense of fullness in the stomach. Unlike traditional intragastric balloons, the Allurion device does not require endoscopic insertion or removal, as it self-deflates and is naturally expelled after treatment, simplifying the patient experience and reducing clinical resource requirements.

In addition to its gastric balloon, Allurion has developed a comprehensive digital health platform that integrates wireless tracking devices, a mobile application, and remote coaching to support patients throughout their weight-loss journey.