Allurion Technologies (NYSE:ALUR) Shares Scheduled to Reverse Split on Friday, January 3rd

Shares of Allurion Technologies Inc. (NYSE:ALUR) are scheduled to reverse split on the morning of Friday, January 3rd. The 1-25 reverse split was announced on Tuesday, December 24th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, January 2nd.

Allurion Technologies Stock Up 12.3 %

ALUR opened at $0.39 on Thursday. Allurion Technologies has a twelve month low of $0.26 and a twelve month high of $4.00. The company’s 50-day moving average price is $0.52 and its two-hundred day moving average price is $0.76. The stock has a market cap of $25.26 million, a price-to-earnings ratio of -0.81 and a beta of -0.56.

Analysts Set New Price Targets

Several research firms recently commented on ALUR. Chardan Capital downgraded Allurion Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Roth Mkm initiated coverage on Allurion Technologies in a research note on Friday, September 6th. They set a “buy” rating and a $2.00 price target for the company. TD Cowen assumed coverage on Allurion Technologies in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $2.00 price objective on the stock. Finally, Roth Capital upgraded shares of Allurion Technologies to a “strong-buy” rating in a research report on Friday, September 6th. One investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $2.88.

Hedge Funds Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC raised its stake in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 516,330 shares of the company’s stock after buying an additional 149,484 shares during the quarter. Geode Capital Management LLC owned about 0.80% of Allurion Technologies worth $317,000 at the end of the most recent reporting period. 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.