Profound Medical $PROF Shares Sold by Stonepine Capital Management LLC

Key Points

• Stonepine Capital Management LLC reduced its stake in Profound Medical by 30%, now holding approximately 139,942 shares, making it the 25th largest position in its portfolio.
• Profound Medical's stock was downgraded by Raymond James from a "strong-buy" to a "moderate buy" with an average consensus target price of $11.00.
• The company reported a loss of ($0.52) per share for the last quarter, falling short of analyst expectations of ($0.43).

Stonepine Capital Management LLC trimmed its holdings in shares of Profound Medical (NASDAQ:PROF - Free Report) by 30.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,942 shares of the company's stock after selling 60,058 shares during the quarter. Profound Medical accounts for approximately 0.8% of Stonepine Capital Management LLC's portfolio, making the stock its 25th biggest position. Stonepine Capital Management LLC owned about 0.47% of Profound Medical worth $814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PROF. Alyeska Investment Group L.P. acquired a new stake in shares of Profound Medical during the 4th quarter worth about $1,202,000. Anson Funds Management LP acquired a new stake in shares of Profound Medical during the 4th quarter worth about $826,000. Timelo Investment Management Inc. increased its position in shares of Profound Medical by 8.7% during the 1st quarter. Timelo Investment Management Inc. now owns 990,995 shares of the company's stock worth $5,768,000 after purchasing an additional 79,234 shares during the last quarter. Maven Securities LTD acquired a new stake in shares of Profound Medical during the 4th quarter worth about $376,000. Finally, AYAL Capital Advisors Ltd acquired a new stake in shares of Profound Medical during the 4th quarter worth about $376,000. 47.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Raymond James Financial downgraded Profound Medical from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Profound Medical presently has an average rating of "Buy" and a consensus target price of $11.00.

Profound Medical Stock Performance

NASDAQ PROF opened at $4.74 on Friday. The company has a market cap of $142.44 million, a P/E ratio of -3.25 and a beta of 0.52. The company has a debt-to-equity ratio of 0.11, a current ratio of 8.53 and a quick ratio of 10.03. The stock has a 50-day moving average of $5.73 and a two-hundred day moving average of $5.75. Profound Medical has a 1-year low of $3.89 and a 1-year high of $9.38.

Profound Medical (NASDAQ:PROF - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.09). The firm had revenue of $2.21 million during the quarter, compared to analyst estimates of $4.75 million. Profound Medical had a negative net margin of 343.97% and a negative return on equity of 89.74%. As a group, analysts anticipate that Profound Medical will post -1.12 EPS 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.

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