Allurion Technologies Inc. (NYSE:ALUR – Get Free Report) shares were down 3.8% on Wednesday . The stock traded as low as $0.68 and last traded at $0.71. Approximately 166,539 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 769,056 shares. The stock had previously closed at $0.74.
Analyst Ratings Changes
Several brokerages have commented on ALUR. Chardan Capital lowered their price target on Allurion Technologies from $5.00 to $2.50 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Roth Capital upgraded shares of Allurion Technologies to a “strong-buy” rating in a research note on Friday, September 6th. TD Cowen initiated coverage on shares of Allurion Technologies in a research report on Wednesday, October 2nd. They set a “buy” rating and a $2.00 target price for the company. Finally, Roth Mkm assumed coverage on Allurion Technologies in a research report on Friday, September 6th. They issued a “buy” rating and a $2.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $2.88.
Check Out Our Latest Report on Allurion Technologies
Allurion Technologies Stock Up 5.6 %
Allurion Technologies (NYSE:ALUR – Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $11.77 million for the quarter. As a group, equities research analysts anticipate that Allurion Technologies Inc. will post -0.4 earnings per share for the current year.
Institutional Investors Weigh In On Allurion Technologies
A hedge fund recently raised its stake in Allurion Technologies stock. Accredited Investors Inc. boosted its holdings in shares of Allurion Technologies Inc. (NYSE:ALUR – Free Report) by 33.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 50,000 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Accredited Investors Inc. owned 0.10% of Allurion Technologies worth $50,000 as of its most recent filing with the SEC. 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.
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