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

Allurion Technologies (NYSE:ALUR)‘s stock had its “buy” rating reaffirmed by analysts at Roth Mkm in a research note issued on Friday,Benzinga reports. They presently have a $16.00 price target on the stock. Roth Mkm’s price objective indicates a potential upside of 401.10% from the company’s previous close.

Separately, Chardan Capital reiterated a “neutral” rating and set a $2.50 price objective on shares of Allurion Technologies in a report on Friday.

Allurion Technologies Stock Performance

Shares of ALUR stock traded up $0.91 on Friday, reaching $3.19. 49,803,078 shares of the company’s stock traded hands, compared to its average volume of 613,039. Allurion Technologies has a 12-month low of $2.15 and a 12-month high of $98.75. The company has a market capitalization of $15.31 million, a P/E ratio of -0.26 and a beta of -0.59. The business’s 50 day moving average price is $4.01 and its two-hundred day moving average price is $10.28.

Institutional Trading of Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC grew its position in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 516,330 shares of the company’s stock after acquiring an additional 149,484 shares during the quarter. Geode Capital Management LLC owned 0.80% of Allurion Technologies worth $317,000 as of its most recent SEC filing. 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.