Allurion Technologies (NYSE:ALUR) Announces Earnings Results, Beats Expectations By $1.27 EPS

Allurion Technologies (NYSE:ALUR) posted its quarterly earnings results on Wednesday. The company reported ($1.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.45) by $1.27, Zacks reports.

Allurion Technologies Trading Up 1.0%

NYSE:ALUR traded up $0.02 during midday trading on Wednesday, hitting $1.51. 232,611 shares of the stock were exchanged, compared to its average volume of 960,849. The company has a market capitalization of $11.68 million, a price-to-earnings ratio of -0.12 and a beta of -0.46. Allurion Technologies has a one year low of $1.35 and a one year high of $17.50. The business has a 50-day moving average price of $2.00 and a two-hundred day moving average price of $2.40.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Allurion Technologies from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allurion Technologies in a research report on Wednesday, October 8th. Finally, Zacks Research raised Allurion Technologies to a “hold” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Allurion Technologies currently has a consensus rating of “Hold” and a consensus target price of $9.25.

Institutional Trading of Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. XTX Topco Ltd lifted its holdings in Allurion Technologies, Inc. (NYSE:ALUR) by 43.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,670 shares of the company’s stock after buying an additional 5,633 shares during the period. XTX Topco Ltd owned about 0.25% of Allurion Technologies worth $45,000 as of its most recent SEC filing. 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.