Allurion Technologies (NYSE:ALUR) Coverage Initiated by Analysts at TD Cowen

TD Cowen started coverage on shares of Allurion Technologies (NYSE:ALUR) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $2.00 price objective on the stock.

Several other research firms have also recently issued reports on ALUR. Roth Capital raised shares of Allurion Technologies to a strong-buy rating in a report on Friday, September 6th. Roth Mkm assumed coverage on shares of Allurion Technologies in a report on Friday, September 6th. They issued a buy rating and a $2.00 target price for the company. Finally, Chardan Capital dropped their target price on shares of Allurion Technologies from $5.00 to $2.50 and set a buy rating for the company in a report on Thursday, August 22nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of Buy and an average price target of $2.88.

Allurion Technologies Stock Performance

Shares of NYSE:ALUR opened at $0.70 on Wednesday. The company has a 50-day simple moving average of $0.69 and a 200-day simple moving average of $1.34. Allurion Technologies has a one year low of $0.55 and a one year high of $5.15. The stock has a market capitalization of $33.69 million, a price-to-earnings ratio of -0.19 and a beta of -0.33.

Allurion Technologies (NYSE:ALUR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $11.77 million for the quarter. As a group, research analysts forecast that Allurion Technologies will post -0.3 EPS for the current fiscal year.

Institutional Trading of Allurion Technologies

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC purchased a new stake in Allurion Technologies Inc. (NYSE:ALUR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies comprises 0.5% of CVI Holdings LLC’s investment portfolio, making the stock its 28th biggest position. CVI Holdings LLC owned approximately 1.09% of Allurion Technologies 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.