On April 4, 2023 at 10:06:33 ET an unusually large $34.34K block of Call contracts in Butterfly Network (BFLY) was bought, with a strike price of $2.50 / share, expiring in 45 days (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was ∞ sigmas above the mean, placing it in the percentile of all recent large trades made in BFLY options.
This trade was first picked up on Fintel's real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 227.27% Upside
As of March 30, 2023, the average one-year price target for Butterfly Network is $6.12. The forecasts range from a low of $4.54 to a high of $7.88. The average price target represents an increase of 227.27% from its latest reported closing price of $1.87.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Butterfly Network is $93MM, an increase of 27.24%. The projected annual non-GAAP EPS is -$0.85.
What is the Fund Sentiment?
There are 318 funds or institutions reporting positions in Butterfly Network. This is a decrease of 10 owner(s) or 3.05% in the last quarter. Average portfolio weight of all funds dedicated to BFLY is 0.07%, a decrease of 13.50%. Total shares owned by institutions decreased in the last three months by 7.22% to 94,539K shares. The put/call ratio of BFLY is 0.19, indicating a bullish outlook.
What are Large Shareholders Doing?
Fosun International holds 10,717K shares representing 5.27% ownership of the company. No change in the last quarter.
ARK Investment Management holds 10,000K shares representing 4.92% ownership of the company. In it's prior filing, the firm reported owning 10,841K shares, representing a decrease of 8.40%. The firm decreased its portfolio allocation in BFLY by 39.97% over the last quarter.
ARKG - ARK Genomic Revolution ETF holds 9,494K shares representing 4.67% ownership of the company. In it's prior filing, the firm reported owning 10,380K shares, representing a decrease of 9.34%. The firm decreased its portfolio allocation in BFLY by 46.16% over the last quarter.
FMCSX - Fidelity Mid-Cap Stock Fund holds 7,883K shares representing 3.87% ownership of the company. In it's prior filing, the firm reported owning 6,296K shares, representing an increase of 20.13%. The firm increased its portfolio allocation in BFLY by 33.91% over the last quarter.
Glenview Capital Management holds 5,465K shares representing 2.69% ownership of the company. No change in the last quarter.
Butterfly Network Background Information
(This description is provided by the company.)
Founded by Dr. Jonathan Rothberg in 2011, Butterfly has created the world's first handheld, single-probe whole-body ultrasound system using its patented Ultrasound-on-Chip™ semiconductor technology. Butterfly's mission is to democratize medical imaging and contribute to the aspiration of global health equity, including for the 4.7 billion people around the world lacking access to ultrasound. Butterfly is paving the way for earlier detection and remote management of health conditions around the world. The Butterfly iQ can be purchased today by healthcare practitioners in the United States, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Butterfly iQ is a prescription device intended for trained and qualified healthcare professionals only.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
