Allurion Technologies (NYSE:ALUR) Trading 1.6% Higher

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Chardan Capital assumed coverage on shares of Allurion Technologies in a research report on Thursday, April 4th. They issued a “buy” rating and a $5.00 target price for the company. Jefferies Financial Group initiated coverage on shares of 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 Stock Performance

The company’s 50 day moving average is $2.41 and its 200 day moving average is $3.26.

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

Institutional Investors Weigh In On Allurion Technologies

Several large investors have recently made changes to their positions in the company. RTW Investments LP bought a new stake in shares of Allurion Technologies in the 3rd quarter worth about $14,868,000. Accredited Investors Inc. bought a new stake in shares of Allurion Technologies in the 3rd quarter worth about $161,000. Finally, Alpine Global Management LLC bought a new stake in shares of Allurion Technologies in the 3rd quarter worth about $97,000. Institutional investors 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.