Shantanu Gaur Acquires 8,000 Shares of Allurion Technologies Inc. (NYSE:ALUR) Stock

Allurion Technologies Inc. (NYSE:ALUR) CEO Shantanu Gaur purchased 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $26,800.00. Following the transaction, the chief executive officer now owns 8,000 shares of the company’s stock, valued at $26,800. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Allurion Technologies Stock Performance

NYSE:ALUR opened at $3.33 on Wednesday. The company has a fifty day moving average of $4.03 and a two-hundred day moving average of $9.49. The stock has a market capitalization of $15.94 million, a PE ratio of -0.28 and a beta of -0.59. Allurion Technologies Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $98.75.

Allurion Technologies (NYSE:ALUR) last released its quarterly earnings results on Wednesday, March 26th. The company reported ($7.00) earnings per share for the quarter, missing the consensus estimate of ($5.00) by ($2.00). The company had revenue of $5.59 million for the quarter, compared to analysts’ expectations of $5.60 million. Research analysts forecast that Allurion Technologies Inc. will post -9.96 earnings per share for the current year.

Analyst Ratings Changes

ALUR has been the topic of several recent analyst reports. Roth Mkm reissued a “buy” rating and set a $16.00 target price on shares of Allurion Technologies in a research note on Friday, March 21st. Chardan Capital reiterated a “neutral” rating and set a $2.50 price target on shares of Allurion Technologies in a research report on Thursday, March 27th.

Hedge Funds Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC boosted its position in Allurion Technologies Inc. (NYSE:ALUR) by 40.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 516,330 shares of the company’s stock after purchasing 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. Hedge funds and other 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.