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

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 closing bell on Thursday, January 2nd.

Allurion Technologies Price Performance

NYSE:ALUR opened at $0.39 on Thursday. The company has a market cap of $25.26 million, a price-to-earnings 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. The stock’s 50 day simple moving average is $0.52 and its two-hundred day simple moving average is $0.76.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Geode Capital Management LLC boosted its holdings 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. 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 0.80% of Allurion Technologies worth $317,000 at the end of the most recent reporting period. 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.