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

Allurion Technologies Inc. (NYSE:ALUR)’s stock is 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 market closes on Thursday, January 2nd.

Allurion Technologies Trading Up 12.3 %

Allurion Technologies stock opened at $0.39 on Thursday. The business’s 50 day simple moving average is $0.52 and its 200 day simple moving average is $0.76. Allurion Technologies has a 12 month low of $0.26 and a 12 month high of $4.00. The company has a market cap of $25.26 million, a price-to-earnings ratio of -0.81 and a beta of -0.56.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Roth Mkm started coverage on Allurion Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $2.00 price objective for the company. TD Cowen assumed coverage on shares of Allurion Technologies in a research note 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 report on Thursday, November 14th. Finally, Roth Capital upgraded Allurion Technologies to a “strong-buy” rating in a research report on Friday, September 6th. One equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $2.88.

Institutional Inflows and Outflows

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% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 516,330 shares of the company’s stock after acquiring 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 SEC filing. 21.39% of the stock is currently owned by institutional investors and hedge funds.

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.