Alyeska Investment Group L.P. Buys Shares of 160,000 Profound Medical Corp. (NASDAQ:PROF)

Alyeska Investment Group L.P. bought a new stake in shares of Profound Medical Corp. (NASDAQ:PROF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 160,000 shares of the company's stock, valued at approximately $1,202,000. Alyeska Investment Group L.P. owned about 0.53% of Profound Medical as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Profound Medical in the fourth quarter valued at approximately $6,577,000. Magnetar Financial LLC purchased a new position in shares of Profound Medical during the 4th quarter valued at $3,826,000. MMCAP International Inc. SPC bought a new position in Profound Medical in the 4th quarter worth about $3,680,000. Altium Capital Management LLC bought a new position in shares of Profound Medical in the fourth quarter worth approximately $3,642,000. Finally, Ring Mountain Capital LLC purchased a new stake in shares of Profound Medical during the 4th quarter valued at $2,087,000. 47.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Lake Street Capital lowered 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 Stock Down 3.5%

NASDAQ:PROF traded down $0.16 during trading hours on Monday, reaching $4.47. 12,763 shares of the company traded hands, compared to its average volume of 60,989. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11. The business's 50-day moving average price is $5.58 and its two-hundred day moving average price is $6.73. Profound Medical Corp. has a 1 year low of $3.90 and a 1 year high of $11.42. The stock has a market capitalization of $134.34 million, a P/E ratio of -3.34 and a beta of 0.44.

Profound Medical (NASDAQ:PROF - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. The firm had revenue of $2.62 million for the quarter, compared to analysts' expectations of $4.78 million. Analysts predict that Profound Medical Corp. will post -1.12 earnings per share for the current year.

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.