Chardan Capital Downgrades Allurion Technologies (NYSE:ALUR) to Neutral

Allurion Technologies (NYSE:ALUR) was downgraded by stock analysts at Chardan Capital from a “buy” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat.com reports.

Several other research analysts have also recently issued reports on the stock. TD Cowen assumed coverage on shares of Allurion Technologies in a report on Wednesday, October 2nd. They set a “buy” rating and a $2.00 target price on the stock. Roth Capital upgraded shares of Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. Finally, Roth Mkm started coverage on shares of Allurion Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $2.00 price target on the stock. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $2.88.

Allurion Technologies Trading Down 14.3 %

NYSE ALUR opened at $0.34 on Thursday. The company’s 50-day moving average price is $0.67 and its 200-day moving average price is $1.04. The stock has a market cap of $22.08 million, a PE ratio of -0.71 and a beta of -0.37. Allurion Technologies has a 12 month low of $0.31 and a 12 month high of $4.54.

Allurion Technologies (NYSE:ALUR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The company had revenue of $11.77 million during the quarter. As a group, sell-side analysts forecast that Allurion Technologies will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Allurion Technologies

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC purchased a new position in shares of Allurion Technologies Inc. (NYSE:ALUR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies comprises about 0.5% of CVI Holdings LLC’s holdings, making the stock its 28th biggest holding. CVI Holdings LLC owned 1.09% of Allurion Technologies 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.