Anson Funds Management LP Acquires Shares of 110,000 Profound Medical Corp. (NASDAQ:PROF)

Anson Funds Management LP bought a new stake in shares of Profound Medical Corp. (NASDAQ:PROF) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 110,000 shares of the company’s stock, valued at approximately $826,000. Anson Funds Management LP owned about 0.37% of Profound Medical at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Gagnon Securities LLC raised its stake in Profound Medical by 12.6% during the 4th quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock valued at $12,411,000 after buying an additional 185,284 shares during the last quarter. Gagnon Advisors LLC increased its holdings in Profound Medical by 20.0% in the 4th quarter. Gagnon Advisors LLC now owns 896,671 shares of the company’s stock worth $6,734,000 after acquiring an additional 149,445 shares in the last quarter. MTM Investment Management LLC boosted its position in shares of Profound Medical by 10.4% in the fourth quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock worth $139,000 after purchasing an additional 1,750 shares during the period. Truist Financial Corp bought a new stake in shares of Profound Medical during the 4th quarter valued at $376,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in Profound Medical by 78.9% in the 4th quarter. Thompson Davis & CO. Inc. now owns 182,295 shares of the company’s stock worth $1,369,000 after buying an additional 80,395 shares during the period. Institutional investors own 47.86% of the company’s stock.

Profound Medical Price Performance

Profound Medical stock opened at $5.23 on Friday. Profound Medical Corp. has a 12-month low of $3.90 and a 12-month high of $11.42. The firm has a market capitalization of $157.18 million, a PE ratio of -3.90 and a beta of 0.68. The firm has a 50-day moving average price of $5.79 and a 200-day moving average price of $6.83. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.11. The company had revenue of $4.18 million for the quarter, compared to the consensus estimate of $5.92 million. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. As a group, equities research analysts forecast that Profound Medical Corp. will post -1.12 EPS for the current year.

Analyst Ratings Changes

Separately, Lake Street Capital cut their price objective on shares of Profound Medical from $17.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd.

Profound Medical Company Profile

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.