Profound Medical (TSE:PRN) Stock Price Down 7.1% - What's Next?

Key Points

• Profound Medical Corp. experienced a significant stock decline of 7.1%, trading as low as C$7.46 before closing at C$7.63.
• The company's market capitalization stands at C$229.30 million, with a price-to-earnings ratio of -5.26 indicating financial challenges.
• Profound Medical specializes in developing incision-free therapeutic systems for the image-guided ablation of diseased tissue, particularly its lead product, the TULSA-PRO system.

Profound Medical Corp. (TSE:PRN - )'s share price traded down 7.1% during mid-day trading on Wednesday . The stock traded as low as C$7.46 and last traded at C$7.63. 6,758 shares were traded during trading, a decline of 35% from the average session volume of 10,411 shares. The stock had previously closed at C$8.21.

Profound Medical Stock Performance

The stock has a market capitalization of C$229.30 million, a price-to-earnings ratio of -5.26 and a beta of -0.76. The company has a current ratio of 6.12, a quick ratio of 14.98 and a debt-to-equity ratio of 20.05. The company's 50-day simple moving average is C$6.82 and its 200-day simple moving average is C$7.25.

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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