Allurion Technologies (NYSE:ALUR) Trading Up 1.6%

Allurion Technologies Inc. (NYSE:ALUR)’s stock price rose 1.6% during trading on Thursday . The stock traded as high as $1.90 and last traded at $1.86. Approximately 33,116 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 804,735 shares. The stock had previously closed at $1.83.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ALUR. Chardan Capital initiated coverage on Allurion Technologies in a research note on Thursday, April 4th. They issued a “buy” rating and a $5.00 target price on the stock. Jefferies Financial Group began coverage on Allurion Technologies in a research note on Friday, February 9th. They issued a “buy” rating and a $5.00 price objective for the company.

Allurion Technologies Price Performance

The firm’s 50-day simple moving average is $2.39 and its 200 day simple moving average is $3.24.

Allurion Technologies (NYSE:ALUR) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.12). The company had revenue of $8.24 million for the quarter, compared to the consensus estimate of $8.20 million. On average, equities analysts forecast that Allurion Technologies Inc. will post -0.87 EPS for the current year.

Institutional Trading of Allurion Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Global Management LLC bought a new position in Allurion Technologies in the 3rd quarter worth about $97,000. Accredited Investors Inc. bought a new position in shares of Allurion Technologies in the third quarter valued at approximately $161,000. Finally, RTW Investments LP purchased a new position in Allurion Technologies during the third quarter valued at approximately $14,868,000. 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.