Allurion Technologies (NYSE:ALUR) Shares Up 1.6%

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

Analyst Upgrades and Downgrades

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

Allurion Technologies Stock Up 3.8 %

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

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

Institutional Trading of Allurion Technologies

A number of institutional investors have recently bought and sold shares of the business. RTW Investments LP bought a new stake in shares of Allurion Technologies in the 3rd quarter valued at about $14,868,000. Accredited Investors Inc. bought a new stake in Allurion Technologies in the third quarter valued at approximately $161,000. Finally, Alpine Global Management LLC acquired a new stake in Allurion Technologies in the third quarter worth $97,000. 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.