Empery Asset Management LP Purchases Shares of 143,532 Profound Medical $PROF

Empery Asset Management LP purchased a new stake in Profound Medical (NASDAQ:PROF) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 143,532 shares of the company’s stock, valued at approximately $1,130,000. Profound Medical accounts for 1.0% of Empery Asset Management LP’s holdings, making the stock its 13th biggest position. Empery Asset Management LP owned approximately 0.40% of Profound Medical at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PROF. First Eagle Investment Management LLC grew its holdings in Profound Medical by 138.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 291,391 shares of the company’s stock valued at $1,451,000 after buying an additional 169,352 shares during the period. Royce & Associates LP lifted its stake 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 purchasing an additional 130,442 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in shares of Profound Medical in the 4th quarter valued at about $1,023,000. Perkins Capital Management Inc. acquired a new position in shares of Profound Medical in the 4th quarter valued at about $899,000. Finally, Legato Capital Management LLC acquired a new position in shares of Profound Medical in the 4th quarter valued at about $784,000. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Profound Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.00.

Profound Medical Stock Performance

Profound Medical stock opened at $6.71 on Thursday. The stock’s 50 day moving average price is $6.74 and its 200 day moving average price is $6.90. The firm has a market capitalization of $243.84 million, a PE ratio of -5.41 and a beta of 0.72. Profound Medical has a one year low of $3.76 and a one year high of $8.95.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.05. The firm had revenue of $5.34 million for the quarter, compared to analyst estimates 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, analysts forecast that Profound Medical will post -0.88 earnings per share for the current fiscal year.

About Profound Medical

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.