Allurion Technologies (NYSE:ALUR) Trading 2.1% Higher – Time to Buy?

Shares of Allurion Technologies Inc. (NYSE:ALUR) traded up 2.1% during trading on Monday . The stock traded as high as $2.78 and last traded at $2.75. 75,918 shares changed hands during trading, a decline of 90% from the average session volume of 787,436 shares. The stock had previously closed at $2.69.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Allurion Technologies from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Roth Mkm reiterated a “buy” rating and set a $16.00 price objective on shares of Allurion Technologies in a research report on Friday, March 21st. Finally, Chardan Capital reiterated a “neutral” rating and set a $2.50 price objective on shares of Allurion Technologies in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.83.

Allurion Technologies Stock Performance

The company’s fifty day moving average price is $2.58 and its 200-day moving average price is $4.69. The stock has a market cap of $20.48 million, a P/E ratio of -0.23 and a beta of -0.47.

Allurion Technologies (NYSE:ALUR) last released its earnings results on Wednesday, May 14th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.53) by $1.96. The firm had revenue of $5.58 million during the quarter, compared to the consensus estimate of $5.50 million. Analysts anticipate that Allurion Technologies Inc. will post -9.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Shantanu Gaur purchased 8,000 shares of Allurion Technologies stock in a transaction that occurred on Friday, March 28th. The shares were bought at an average price of $3.35 per share, with a total value of $26,800.00. Following the purchase, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at approximately $26,800. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Allurion Technologies stock. XTX Topco Ltd purchased a new position in Allurion Technologies Inc. (NYSE:ALUR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,037 shares of the company’s stock, valued at approximately $42,000. XTX Topco Ltd owned 0.27% of Allurion Technologies at the end of the most recent reporting period. Institutional investors own 21.39% of the company’s stock.

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.