Gardaí have cancelled the Child Rescue Ireland (CRI) Alert for teenager Sait Canbullu.
"From our extensive enquiries we are now satisfied that Sait was not abducted," said a Garda statement.
However, An Garda Síochána are continuing to appeal to the public for their assistance in tracing the whereabouts of the 15-year-old, who remains missing.
Gardaí now regard this as a high-risk missing person investigation.
CRI Alert cancelled, we are still looking to locate Sait, Gardaí now dealing with this as a missing person http://t.co/8cPA1KQen1
— An Garda Síochána (@GardaTraffic) September 14, 2014
Sait Canbullu has not been seen since Saturday afternoon when it was initially reported that he had been bundled into the back of a car in Wexford Town by two men.
The Garda press office said that following extensive enquiries detectives were satisfied that the teenager had not been abducted and that he had not been forced into the car.
A spokesman confirmed it had cancelled the nationwide child rescue alert.
The CRI alert is issued nationwide through the media and transport and police networks on the basis that there is an immediate and serious risk to the health and welfare of a child.
It is understood the criteria was no longer met after witnesses were re-interviewed.
It was originally reported that two men wearing ski masks or balaclavas had forced the teenager into a car at the junction of High Street and Rowe Street in Wexford around Saturday lunchtime.
Gardaí have now issued a missing persons report.
Sait is described as 5ft 4ins, of average build with black hair and brown eyes. He was last seen wearing a dark grey tracksuit and blue/grey Nike running shoes.
Anyone with information is asked to contact Wexford Garda Station 053-916520, or their local garda station.