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

Allurion Technologies Inc. (NYSE:ALUR)’s stock is going to reverse split on 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 closing bell on Thursday, January 2nd.

Allurion Technologies Price Performance

Shares of ALUR opened at $0.39 on Thursday. The firm has a market capitalization of $25.26 million, a P/E ratio of -0.81 and a beta of -0.56. Allurion Technologies has a one year low of $0.26 and a one year high of $4.00. The business has a fifty day moving average of $0.52 and a 200 day moving average of $0.76.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Cowen began coverage on shares of Allurion Technologies in a research report on Wednesday, October 2nd. They set a “buy” rating and a $2.00 target price for the company. Roth Mkm assumed coverage on Allurion Technologies in a research report on Friday, September 6th. They issued a “buy” rating and a $2.00 price target for the company. Chardan Capital cut Allurion Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, Roth Capital raised shares of Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $2.88.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC grew its position in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 516,330 shares of the company’s stock after acquiring an additional 149,484 shares during the quarter. Geode Capital Management LLC owned 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 hedge funds and other institutional investors.

About Allurion Technologies

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.