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

Allurion Technologies Inc. (NYSE:ALUR) CEO Shantanu Gaur bought 8,000 shares of the stock in a transaction on Friday, March 28th. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $26,800.00. Following the acquisition, the chief executive officer now directly owns 8,000 shares in the company, valued at approximately $26,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Allurion Technologies Stock Performance

Allurion Technologies stock opened at $3.39 on Thursday. Allurion Technologies Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $98.75. The stock has a market cap of $16.25 million, a P/E ratio of -0.28 and a beta of -0.59. The firm’s fifty day moving average price is $4.03 and its 200-day moving average price is $9.44.

Allurion Technologies (NYSE:ALUR) last announced its earnings results on Wednesday, March 26th. The company reported ($7.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.00) by ($2.00). The business had revenue of $5.59 million during the quarter, compared to analyst estimates of $5.60 million. Sell-side analysts predict that Allurion Technologies Inc. will post -9.96 earnings per share for the current year.

Institutional Investors Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC grew its stake in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 516,330 shares of the company’s stock after buying an additional 149,484 shares during the quarter. Geode Capital Management LLC owned 0.80% of Allurion Technologies worth $317,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Analysts Set New Price Targets

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

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.