MMCAP International Inc. SPC Takes Position in Profound Medical Corp. (NASDAQ:PROF)

MMCAP International Inc. SPC acquired a new stake in shares of Profound Medical Corp. (NASDAQ:PROF) during the 4th quarter, Holdings Channel reports. The firm acquired 490,000 shares of the company’s stock, valued at approximately $3,680,000.

Several other institutional investors have also recently made changes to their positions in PROF. Raymond James Trust N.A. raised its holdings in shares of Profound Medical by 14.3% during the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock valued at $96,000 after purchasing an additional 1,500 shares during the period. MTM Investment Management LLC raised its holdings in shares of Profound Medical by 10.4% during the fourth quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock valued at $139,000 after purchasing an additional 1,750 shares during the period. Truist Financial Corp acquired a new position in shares of Profound Medical during the fourth quarter valued at about $376,000. K2 Principal Fund L.P. acquired a new position in shares of Profound Medical during the third quarter valued at about $398,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Profound Medical during the third quarter valued at about $612,000. Institutional investors and hedge funds own 47.86% of the company’s stock.

Profound Medical Trading Down 4.6 %

NASDAQ:PROF opened at $7.10 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16. The firm has a 50-day moving average of $7.02 and a 200-day moving average of $7.69. The company has a market cap of $213.28 million, a PE ratio of -5.30 and a beta of 0.88. Profound Medical Corp. has a one year low of $5.63 and a one year high of $11.42.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of Profound Medical to a “strong-buy” rating in a report on Saturday, November 9th.

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.