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

Shares of Allurion Technologies Inc. (NYSE:ALUR) are scheduled to reverse split before the market opens 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

NYSE ALUR opened at $0.39 on Thursday. The company’s 50 day simple moving average is $0.52 and its two-hundred day simple moving average is $0.76. The stock has a market capitalization of $25.26 million, a PE ratio of -0.81 and a beta of -0.56. Allurion Technologies has a 1 year low of $0.26 and a 1 year high of $4.00.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALUR. Roth Capital upgraded Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. TD Cowen assumed coverage on shares of Allurion Technologies in a research report on Wednesday, October 2nd. They set a “buy” rating and a $2.00 price target on the stock. Chardan Capital downgraded shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, Roth Mkm began coverage on shares of Allurion Technologies in a research note on Friday, September 6th. They issued a “buy” rating and a $2.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $2.88.

Institutional Trading of Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC boosted 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 & Exchange Commission. The fund owned 516,330 shares of the company’s stock after buying an additional 149,484 shares during the quarter. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent filing with the Securities & Exchange Commission. 21.39% of the stock is currently owned by 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.