Allurion Technologies (NYSE:ALUR) Stock Price Down 8.9% – What’s Next?

Allurion Technologies, Inc. (NYSE:ALUR) shares were down 8.9% during trading on Thursday . The stock traded as low as $1.06 and last traded at $1.0750. Approximately 116,951 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 102,997 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALUR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allurion Technologies in a research note on Wednesday, January 21st. Chardan Capital reiterated a “neutral” rating on shares of Allurion Technologies in a research report on Thursday, November 20th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.25.

Allurion Technologies Stock Performance

The firm’s 50-day moving average price is $1.51 and its two-hundred day moving average price is $1.90. The firm has a market capitalization of $13.63 million, a price-to-earnings ratio of -0.11 and a beta of -0.43.

Allurion Technologies (NYSE:ALUR) last announced its earnings results on Wednesday, November 12th. The company reported ($1.18) EPS for the quarter, topping the consensus estimate of ($2.45) by $1.27. The business had revenue of $2.66 million during the quarter, compared to analyst estimates of $2.05 million. As a group, equities research analysts anticipate that Allurion Technologies, Inc. will post -9.96 EPS for the current year.

Institutional Investors Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. XTX Topco Ltd boosted its holdings in Allurion Technologies, Inc. (NYSE:ALUR) by 43.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,670 shares of the company’s stock after acquiring an additional 5,633 shares during the period. XTX Topco Ltd owned 0.25% of Allurion Technologies worth $45,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 21.39% of the company’s stock.

Allurion Technologies Company Profile

Allurion Technologies is a medical technology company specializing in non-surgical weight-loss solutions. The company’s flagship product, the Allurion Gastric Balloon, is a swallowable, fluid-filled device designed to promote weight loss by creating a sense of fullness in the stomach. Unlike traditional intragastric balloons, the Allurion device does not require endoscopic insertion or removal, as it self-deflates and is naturally expelled after treatment, simplifying the patient experience and reducing clinical resource requirements.

In addition to its gastric balloon, Allurion has developed a comprehensive digital health platform that integrates wireless tracking devices, a mobile application, and remote coaching to support patients throughout their weight-loss journey.