Allurion Technologies (NYSE:ALUR) Sees Large Volume Increase – Here’s Why

Shares of Allurion Technologies Inc. (NYSE:ALUR) saw an uptick in trading volume on Friday . 8,214 shares were traded during trading, a decline of 52% from the previous session’s volume of 17,218 shares.The stock last traded at $9.68 and had previously closed at $10.43.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALUR. TD Cowen assumed coverage on Allurion Technologies in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective for the company. Chardan Capital cut shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Roth Capital raised shares of Allurion Technologies to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Roth Mkm began coverage on Allurion Technologies in a research report on Friday, September 6th. They set a “buy” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Allurion Technologies currently has an average rating of “Buy” and an average target price of $71.88.

Allurion Technologies Price Performance

The company has a market capitalization of $631.77 million, a P/E ratio of -20.31 and a beta of -0.56. The stock’s 50 day moving average is $0.48 and its 200-day moving average is $0.72.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC purchased a new stake in shares of Allurion Technologies Inc. (NYSE:ALUR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies makes up 0.5% of CVI Holdings LLC’s holdings, making the stock its 28th biggest holding. CVI Holdings LLC owned about 1.09% of Allurion Technologies as of its most recent SEC filing. Hedge funds and other 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.