Picton Mahoney Asset Management bought a new stake in Profound Medical Corp. (NASDAQ:PROF – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 250,000 shares of the company’s stock, valued at approximately $1,879,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Profound Medical in the 3rd quarter valued at approximately $612,000. Gagnon Securities LLC increased its holdings in Profound Medical by 12.6% in the 4th quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock valued at $12,411,000 after purchasing an additional 185,284 shares during the last quarter. Gagnon Advisors LLC boosted its position in Profound Medical by 20.0% in the 4th quarter. Gagnon Advisors LLC now owns 896,671 shares of the company’s stock valued at $6,734,000 after buying an additional 149,445 shares during the period. Truist Financial Corp purchased a new position in Profound Medical in the 4th quarter valued at approximately $376,000. Finally, Ring Mountain Capital LLC purchased a new position in Profound Medical in the 4th quarter valued at approximately $2,087,000. Institutional investors and hedge funds own 47.86% of the company’s stock.
Profound Medical Stock Performance
Shares of PROF stock opened at $6.95 on Friday. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11. Profound Medical Corp. has a 52 week low of $5.63 and a 52 week high of $11.42. The stock has a market capitalization of $208.78 million, a PE ratio of -5.19 and a beta of 0.78. The firm has a 50 day moving average of $6.96 and a two-hundred day moving average of $7.50.
About Profound Medical
Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.
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