Timelo Investment Management Inc. Acquires 159,954 Shares of Profound Medical Corp. (NASDAQ:PROF)

Timelo Investment Management Inc. increased its stake in shares of Profound Medical Corp. (NASDAQ:PROF - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 911,761 shares of the company's stock after purchasing an additional 159,954 shares during the quarter. Profound Medical accounts for 4.8% of Timelo Investment Management Inc.'s holdings, making the stock its 3rd biggest holding. Timelo Investment Management Inc. owned approximately 3.04% of Profound Medical worth $6,847,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PROF. Formula Growth Ltd. purchased a new stake in shares of Profound Medical during the fourth quarter valued at $1,878,000. Altium Capital Management LLC purchased a new position in Profound Medical during the 4th quarter worth $3,642,000. Marshall Wace LLP lifted its holdings in shares of Profound Medical by 201.6% in the 4th quarter. Marshall Wace LLP now owns 36,216 shares of the company's stock worth $272,000 after buying an additional 24,208 shares during the period. XTX Topco Ltd bought a new position in shares of Profound Medical during the 4th quarter worth $114,000. Finally, Raymond James Financial Inc. bought a new position in shares of Profound Medical during the 4th quarter worth $6,577,000. 47.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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 research note on Wednesday.

Profound Medical Stock Up 0.5 %

NASDAQ:PROF traded up $0.03 during trading hours on Friday, reaching $4.75. The company's stock had a trading volume of 77,179 shares, compared to its average volume of 58,095. The stock has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $6.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12. The company has a market capitalization of $142.54 million, a P/E ratio of -3.54 and a beta of 0.68. Profound Medical Corp. has a 12 month low of $3.90 and a 12 month high of $11.42.

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

Profound Medical Company Profile

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.