Investors Purchase Large Volume of Call Options on ViewRay (NASDAQ:VRAY)

ViewRay, Inc. (NASDAQ:VRAYGet Rating) was the target of some unusual options trading activity on Thursday. Stock traders acquired 20,097 call options on the company. This is an increase of approximately 373% compared to the typical volume of 4,251 call options.

ViewRay Price Performance

Shares of VRAY opened at $4.68 on Friday. ViewRay has a 12-month low of $2.39 and a 12-month high of $4.96. The business’s fifty day moving average is $4.58 and its 200 day moving average is $3.93. The company has a quick ratio of 2.30, a current ratio of 2.67 and a debt-to-equity ratio of 0.56. The stock has a market cap of $849.03 million, a P/E ratio of -7.93 and a beta of 0.99.

ViewRay (NASDAQ:VRAYGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). ViewRay had a negative return on equity of 78.03% and a negative net margin of 121.25%. The business had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $25.47 million. Sell-side analysts anticipate that ViewRay will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at ViewRay

In related news, Director Susan C. Schnabel acquired 25,000 shares of ViewRay stock in a transaction dated Monday, November 28th. The stock was bought at an average price of $4.70 per share, with a total value of $117,500.00. Following the transaction, the director now directly owns 192,790 shares in the company, valued at approximately $906,113. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On ViewRay

Several large investors have recently bought and sold shares of VRAY. Neuberger Berman Group LLC bought a new position in ViewRay during the 1st quarter valued at $16,264,000. Assenagon Asset Management S.A. bought a new position in ViewRay during the 2nd quarter valued at $4,864,000. Silverarc Capital Management LLC lifted its stake in ViewRay by 217.2% during the 3rd quarter. Silverarc Capital Management LLC now owns 2,324,066 shares of the company’s stock valued at $8,460,000 after acquiring an additional 1,591,326 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of ViewRay by 237.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,496,195 shares of the company’s stock worth $5,446,000 after purchasing an additional 1,053,008 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of ViewRay by 1,680.2% in the 1st quarter. JPMorgan Chase & Co. now owns 970,232 shares of the company’s stock worth $3,803,000 after buying an additional 915,731 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VRAY. B. Riley reaffirmed a “buy” rating on shares of ViewRay in a research report on Thursday, November 17th. Morgan Stanley raised their price objective on shares of ViewRay from $5.00 to $5.50 and gave the stock an “equal weight” rating in a research report on Friday, November 18th. StockNews.com began coverage on shares of ViewRay in a research report on Wednesday, October 12th. They set a “sell” rating for the company. BTIG Research cut their target price on ViewRay to $7.00 in a report on Thursday, October 20th. Finally, Piper Sandler increased their target price on ViewRay from $6.00 to $6.50 and gave the stock an “overweight” rating in a report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.50.

ViewRay Company Profile

(Get Rating)

ViewRay, Inc designs, manufactures, and markets magnetic resonance imaging (MRI) guided radiation therapy systems to image and treat cancer patients in the United States, France, Taiwan, the United Kingdom, and internationally. The company provides MRIdian, which is an MRI guided radiation therapy system that addresses beam distortion, skin toxicity, and other concerns.

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