Butterfly Network (BFLY) stock was up after the digital health company provided an update to investors. This update came after Midjourney announced a new medical push, including a “whole-body scanner” concept called The Midjourney Scanner. The system is designed as a tomographic imaging machine and is built in part using Butterfly’s Ultrasound-on-Chip modules under a co-development deal between the two companies. According to the announcement, the prototype includes about 40 imaging modules per system, with future versions expected to scale up the number of sensors.
Butterfly Network said that the idea behind the system is to shift healthcare toward earlier detection and ongoing monitoring, instead of treating illnesses after they show up. Butterfly CEO Joseph DeVivo said the goal is to give people a more constant view of their health over time. He stated, “After nearly 35 years working in healthcare, it’s clear to me that our U.S. healthcare system is still primarily designed to treat illness, not prevent it.” In addition to this, DeVivo said that the new scanner could give users a continuous, low-cost way to track changes in the body without radiation or invasive procedures.
Butterfly also said the collaboration could become a meaningful commercial opportunity as the platform develops. DeVivo noted that the project supports Midjourney’s goal of broader access to personal imaging data, while also opening a potential growth path for Butterfly’s embedded licensing business.
Butterfly Network Stock Movement Today
Butterfly Network stock was up 44.83% on Thursday, extending a 117.63% year-to-date rally. The stock has also gained 174.52% over the past 12 months.
BFLY stock trading activity today was elevated. This saw some 31 million shares change hands, compared to a three-month average daily trading volume of about 4.81 million shares.
Is Butterfly Network Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Butterfly Network is Strong Buy, based on four Buy ratings over the past three months. With this comes an average BFLY stock price target of $5.75. This price target represents a possible 31.14% downside for the shares.
