Allurion Technologies (NYSE:ALUR) Sees Unusually-High Trading Volume – Should You Buy?

Allurion Technologies Inc. (NYSE:ALUR) saw an uptick in trading volume on Friday . 8,214 shares were traded during mid-day 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.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALUR. Chardan Capital cut shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. TD Cowen initiated coverage on Allurion Technologies in a research note on Wednesday, October 2nd. They set a “buy” rating and a $50.00 target price on the stock. Roth Capital upgraded shares of Allurion Technologies to a “strong-buy” rating in a research note on Friday, September 6th. Finally, Roth Mkm started coverage on Allurion Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $50.00 price objective for the company. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $71.88.

Allurion Technologies Trading Down 6.5 %

The stock has a market capitalization of $631.77 million, a price-to-earnings ratio of -20.31 and a beta of -0.56. The stock has a 50-day moving average price of $0.48 and a 200 day moving average price of $0.72.

Institutional Investors Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC lifted its position in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 516,330 shares of the company’s stock after buying an additional 149,484 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 21.39% of the stock is currently owned by institutional investors and hedge funds.

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.