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

Allurion Technologies (NYSE:ALUR)‘s stock had its “neutral” rating reissued by investment analysts at Chardan Capital in a research note issued on Friday,Benzinga reports. They presently have a $2.50 target price on the stock. Chardan Capital’s price target suggests a potential upside of 10.62% from the stock’s current price.

Allurion Technologies Stock Down 5.8 %

NYSE:ALUR opened at $2.26 on Friday. The business’s 50 day moving average is $4.01 and its two-hundred day moving average is $10.28. Allurion Technologies has a 52 week low of $2.15 and a 52 week high of $98.75. The company has a market cap of $10.83 million, a PE ratio of -0.19 and a beta of -0.59.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC boosted its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 516,330 shares of the company’s stock after acquiring an additional 149,484 shares during the period. Geode Capital Management LLC owned about 0.80% of Allurion Technologies worth $317,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.