ViewRay (NASDAQ:VRAY) Trading Down 5.6%

ViewRay, Inc. (NASDAQ:VRAY) shares fell 5.6% on Tuesday . The company traded as low as $4.43 and last traded at $4.57. 1,493,054 shares were traded during mid-day trading, a decline of 47% from the average session volume of 2,812,584 shares. The stock had previously closed at $4.84.

A number of research firms have weighed in on VRAY. B. Riley raised shares of ViewRay from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2.75 to $4.00 in a report on Wednesday, October 28th. Zacks Investment Research raised shares of ViewRay from a “sell” rating to a “hold” rating in a report on Tuesday, January 5th. Morgan Stanley lifted their price objective on shares of ViewRay from $2.00 to $3.00 and gave the company an “underweight” rating in a report on Wednesday, January 6th. Finally, Piper Sandler lifted their price objective on shares of ViewRay from $4.00 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, January 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.14.

The firm has a market cap of $678.65 million, a PE ratio of -5.13 and a beta of 0.64. The business’s 50 day moving average price is $5.12 and its 200 day moving average price is $3.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.90 and a quick ratio of 3.19.

Several hedge funds have recently added to or reduced their stakes in VRAY. Artisan Partners Limited Partnership increased its stake in shares of ViewRay by 23.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 18,658,583 shares of the company’s stock worth $71,276,000 after purchasing an additional 3,563,960 shares in the last quarter. Pura Vida Investments LLC increased its stake in shares of ViewRay by 11.7% during the fourth quarter. Pura Vida Investments LLC now owns 7,795,587 shares of the company’s stock worth $29,779,000 after purchasing an additional 814,450 shares in the last quarter. BlackRock Inc. boosted its position in ViewRay by 4.4% during the fourth quarter. BlackRock Inc. now owns 7,916,471 shares of the company’s stock worth $30,242,000 after acquiring an additional 335,631 shares during the last quarter. Royce & Associates LP boosted its position in ViewRay by 16.1% during the fourth quarter. Royce & Associates LP now owns 2,393,454 shares of the company’s stock worth $9,143,000 after acquiring an additional 331,670 shares during the last quarter. Finally, Needham Investment Management LLC boosted its position in ViewRay by 28.2% during the fourth quarter. Needham Investment Management LLC now owns 1,000,000 shares of the company’s stock worth $3,820,000 after acquiring an additional 220,000 shares during the last quarter. 83.03% of the stock is owned by institutional investors and hedge funds.

About ViewRay (NASDAQ:VRAY)

ViewRay, Inc designs, manufactures, and markets radiation therapy systems. The company offers MRIdian, a magnetic resonance image guided radiation therapy system to image and treat cancer patients. Its MRIdian integrates MRI technology, radiation delivery, and proprietary software to see the soft tissues, shape the dose to accommodate for changes in anatomy, and strike the target using real-time targeting throughout the treatment.

Recommended Story: Forex

Receive News & Ratings for ViewRay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ViewRay and related companies with MarketBeat.com's FREE daily email newsletter.