Roth Mkm Reiterates “Buy” Rating for Allurion Technologies (NYSE:ALUR)

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

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

Allurion Technologies Stock Up 40.0 %

NYSE:ALUR traded up $0.91 during trading hours on Friday, reaching $3.19. 49,803,078 shares of the stock were exchanged, compared to its average volume of 613,039. The company has a market capitalization of $15.31 million, a price-to-earnings ratio of -0.26 and a beta of -0.59. The business has a 50-day moving average of $4.01 and a two-hundred day moving average of $10.28. Allurion Technologies has a twelve month low of $2.15 and a twelve month high of $98.75.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC boosted its holdings in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,330 shares of the company’s stock after acquiring an additional 149,484 shares during the quarter. Geode Capital Management LLC owned about 0.80% of Allurion Technologies worth $317,000 as of its most recent SEC filing. 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.