Allurion Technologies’ (ALUR) “Neutral” Rating Reaffirmed at Chardan Capital

Chardan Capital restated their neutral rating on shares of Allurion Technologies (NYSE:ALUR) in a report released on Friday morning,Benzinga reports. Chardan Capital currently has a $2.50 price target on the stock.

Allurion Technologies Price Performance

NYSE ALUR opened at $3.60 on Friday. The stock’s 50 day simple moving average is $4.00 and its 200 day simple moving average is $10.19. Allurion Technologies has a one year low of $2.15 and a one year high of $98.75. The firm has a market cap of $17.24 million, a PE ratio of -0.30 and a beta of -0.59.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC lifted its stake in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,330 shares of the company’s stock after purchasing 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. 21.39% of the stock is currently owned by institutional investors and hedge funds.

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.