Chardan Capital Reiterates Neutral Rating for Allurion Technologies (NYSE:ALUR)

Allurion Technologies (NYSE:ALUR)‘s stock had its “neutral” rating reiterated by stock analysts at Chardan Capital in a report released on Friday,Benzinga reports. They currently have a $2.50 price target on the stock. Chardan Capital’s target price would suggest a potential downside of 30.48% from the company’s current price.

Allurion Technologies Stock Performance

Shares of ALUR opened at $3.60 on Friday. The company has a 50-day simple moving average of $4.00 and a 200-day simple moving average of $10.14. The firm has a market capitalization of $17.24 million, a P/E ratio of -0.30 and a beta of -0.59. Allurion Technologies has a 52 week low of $2.15 and a 52 week high of $98.75.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC increased its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the 3rd quarter, according to its most recent disclosure with the Securities & 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 quarter. 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.