Roth Mkm Reaffirms Buy Rating for Allurion Technologies (NYSE:ALUR)

Allurion Technologies (NYSE:ALUR)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $16.00 target price on the stock. Roth Mkm’s price target indicates a potential upside of 344.94% from the stock’s previous close.

Separately, Chardan Capital restated a “neutral” rating and issued a $2.50 price target on shares of Allurion Technologies in a research report on Friday.

Allurion Technologies Stock Up 57.7 %

NYSE:ALUR opened at $3.60 on Friday. Allurion Technologies has a 12-month low of $2.15 and a 12-month high of $98.75. The firm has a market capitalization of $17.24 million, a P/E ratio of -0.30 and a beta of -0.59. The stock’s fifty day simple moving average is $4.00 and its 200-day simple moving average is $10.14.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC boosted its holdings in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,330 shares of the company’s stock after acquiring an additional 149,484 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 21.39% of the company’s stock.

Allurion Technologies Company Profile

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.