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

Allurion Technologies Inc. (NYSE:ALUR) shares are set 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 market closes on Thursday, January 2nd.

Allurion Technologies Stock Performance

ALUR stock opened at $0.39 on Thursday. Allurion Technologies has a one year low of $0.26 and a one year high of $4.00. The firm has a market cap of $25.26 million, a PE ratio of -0.81 and a beta of -0.56. The firm’s fifty day moving average is $0.52 and its 200 day moving average is $0.76.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC lifted its stake in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the 3rd quarter, according to its most recent 13F 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 about 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 hedge funds and other institutional investors.

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.