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

Shares of Allurion Technologies Inc. (NYSE:ALUR) are scheduled 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 Trading Up 0.4 %

Shares of ALUR stock opened at $0.43 on Monday. The firm has a fifty day moving average price of $0.50 and a 200 day moving average price of $0.74. The company has a market cap of $28.17 million, a P/E ratio of -0.91 and a beta of -0.56. Allurion Technologies has a 12 month low of $0.26 and a 12 month high of $4.00.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALUR. Roth Capital raised Allurion Technologies to a “strong-buy” rating in a report on Friday, September 6th. Roth Mkm started coverage on shares of Allurion Technologies in a research report on Friday, September 6th. They issued a “buy” rating and a $2.00 price target for the company. TD Cowen began coverage on shares of 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, Chardan Capital cut shares of Allurion Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $2.88.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC bought a new stake in shares of Allurion Technologies Inc. (NYSE:ALUR) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies makes up about 0.5% of CVI Holdings LLC’s portfolio, making the stock its 28th biggest position. CVI Holdings LLC owned approximately 1.09% of Allurion Technologies as of its most recent filing with the SEC. 21.39% of the stock is owned by institutional investors and hedge funds.

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.