Profound Medical $PROF Shares Bought by Ardsley Advisory Partners LP

Ardsley Advisory Partners LP boosted its stake in shares of Profound Medical (NASDAQ:PROF) by 36.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 450,000 shares of the company’s stock after acquiring an additional 120,000 shares during the quarter. Ardsley Advisory Partners LP owned about 1.24% of Profound Medical worth $3,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FIL Ltd lifted its position in Profound Medical by 16.7% during the 4th quarter. FIL Ltd now owns 2,200,000 shares of the company’s stock worth $17,270,000 after acquiring an additional 315,000 shares during the period. Gagnon Securities LLC lifted its holdings in shares of Profound Medical by 12.2% in the 4th quarter. Gagnon Securities LLC now owns 1,944,061 shares of the company’s stock valued at $15,300,000 after buying an additional 211,021 shares during the period. Rosalind Advisors Inc. lifted its holdings in shares of Profound Medical by 54.4% in the 4th quarter. Rosalind Advisors Inc. now owns 1,068,955 shares of the company’s stock valued at $8,413,000 after buying an additional 376,770 shares during the period. Royce & Associates LP lifted its holdings in shares of Profound Medical by 15.2% in the 4th quarter. Royce & Associates LP now owns 990,348 shares of the company’s stock valued at $7,771,000 after buying an additional 130,442 shares during the period. Finally, Gagnon Advisors LLC lifted its holdings in shares of Profound Medical by 7.3% in the 4th quarter. Gagnon Advisors LLC now owns 962,186 shares of the company’s stock valued at $7,572,000 after buying an additional 65,515 shares during the period. 47.86% of the stock is owned by institutional investors and hedge funds.

Profound Medical Price Performance

NASDAQ PROF opened at $6.57 on Thursday. Profound Medical has a 1-year low of $3.76 and a 1-year high of $8.95. The company has a market capitalization of $238.75 million, a P/E ratio of -5.30 and a beta of 0.72. The business has a 50 day moving average price of $6.76 and a 200 day moving average price of $6.91.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.05. The firm had revenue of $5.34 million during the quarter, compared to the consensus estimate of $4.85 million. Profound Medical had a negative return on equity of 78.88% and a negative net margin of 206.76%. On average, research analysts expect that Profound Medical will post -0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Profound Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Profound Medical Profile

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.