Insider Buying: Allurion Technologies Inc. (NYSE:ALUR) CEO Acquires 8,000 Shares of Stock

Allurion Technologies Inc. (NYSE:ALUR) CEO Shantanu Gaur bought 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were acquired at an average price of $3.35 per share, with a total value of $26,800.00. Following the completion of the transaction, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at $26,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Allurion Technologies Stock Up 3.6 %

Shares of ALUR stock traded up $0.12 during mid-day trading on Tuesday, hitting $3.33. 130,364 shares of the stock were exchanged, compared to its average volume of 714,923. Allurion Technologies Inc. has a 52-week low of $2.15 and a 52-week high of $98.75. The company has a market cap of $15.94 million, a PE ratio of -0.28 and a beta of -0.59. The firm has a fifty day moving average of $4.02 and a 200 day moving average of $9.57.

Allurion Technologies (NYSE:ALUR) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($7.00) earnings per share (EPS) 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 the consensus estimate of $5.60 million. Equities analysts predict 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. Geode Capital Management LLC raised 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 516,330 shares of the company’s stock after purchasing an additional 149,484 shares during the period. Geode Capital Management LLC owned 0.80% of Allurion Technologies worth $317,000 at the end of the most recent quarter. Institutional investors and hedge funds own 21.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALUR. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective on shares of Allurion Technologies in a report on Friday, March 21st. Chardan Capital restated a “neutral” rating and issued a $2.50 price objective on shares of Allurion Technologies in a research report on Thursday, March 27th.

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.