Anson Funds Management LP Buys New Stake in Profound Medical Corp. (NASDAQ:PROF)

Anson Funds Management LP purchased a new position in Profound Medical Corp. (NASDAQ:PROF - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FIL Ltd lifted its position in Profound Medical by 16.9% during the 4th quarter. FIL Ltd now owns 1,795,000 shares of the company's stock worth $13,486,000 after acquiring an additional 260,000 shares during the period. Gagnon Securities LLC lifted its holdings in shares of Profound Medical by 12.6% during the fourth quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company's stock worth $12,411,000 after purchasing an additional 185,284 shares during the period. Timelo Investment Management Inc. boosted its position in Profound Medical by 21.3% in the fourth quarter. Timelo Investment Management Inc. now owns 911,761 shares of the company's stock valued at $6,847,000 after buying an additional 159,954 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 buying an additional 149,445 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Profound Medical during the 4th quarter valued at approximately $6,577,000. 47.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Lake Street Capital cut their price target on Profound Medical from $17.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd.

Profound Medical Price Performance

Shares of NASDAQ PROF traded up $0.14 during midday trading on Thursday, hitting $4.95. The stock had a trading volume of 69,616 shares, compared to its average volume of 78,666. The stock has a 50 day simple moving average of $5.67 and a 200-day simple moving average of $6.78. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $148.76 million, a PE ratio of -3.69 and a beta of 0.44. Profound Medical Corp. has a 1 year low of $3.89 and a 1 year high of $11.42.

Profound Medical (NASDAQ:PROF - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.11. The business had revenue of $4.18 million for the quarter, compared to analyst estimates of $5.92 million. Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. On average, sell-side analysts expect that Profound Medical Corp. will post -1.12 EPS for the current fiscal 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.