Allurion Technologies (NYSE:ALUR) Receives “Neutral” Rating from Chardan Capital

Allurion Technologies (NYSE:ALUR)‘s stock had its “neutral” rating restated by research analysts at Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $2.50 price objective on the stock. Chardan Capital’s price target suggests a potential upside of 10.62% from the stock’s previous close.

Allurion Technologies Stock Performance

Shares of ALUR opened at $2.26 on Friday. The firm has a fifty day moving average of $4.01 and a 200-day moving average of $10.28. The company has a market cap of $10.83 million, a price-to-earnings ratio of -0.19 and a beta of -0.59. Allurion Technologies has a 1 year low of $2.15 and a 1 year high of $98.75.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC lifted its holdings in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 516,330 shares of the company’s stock after buying an additional 149,484 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.39% of the company’s stock.

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.