Allurion Technologies (NYSE:ALUR) Announces Earnings Results, Beats Expectations By $0.08 EPS

Allurion Technologies (NYSE:ALUR) announced its quarterly earnings results on Tuesday. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.08, Zacks reports. The company had revenue of $3.38 million during the quarter, compared to analysts’ expectations of $6.20 million.

Allurion Technologies Stock Down 5.6%

Shares of Allurion Technologies stock opened at $2.1250 on Thursday. Allurion Technologies has a 52-week low of $1.99 and a 52-week high of $22.25. The company’s 50-day simple moving average is $2.68 and its 200-day simple moving average is $2.96. The firm has a market cap of $15.85 million, a price-to-earnings ratio of -0.17 and a beta of -0.45.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALUR. Zacks Research raised shares of Allurion Technologies to a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen cut shares of Allurion Technologies from a “hold” rating to a “strong sell” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.83.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allurion Technologies stock. XTX Topco Ltd increased its stake in Allurion Technologies, Inc. (NYSE:ALUR) by 43.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,670 shares of the company’s stock after purchasing an additional 5,633 shares during the quarter. XTX Topco Ltd owned 0.25% of Allurion Technologies worth $45,000 at the end of the most recent quarter. 21.39% of the stock is currently owned by institutional investors.

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.