490,000 Shares in Profound Medical Corp. (NASDAQ:PROF) Bought by MMCAP International Inc. SPC

MMCAP International Inc. SPC acquired a new position in Profound Medical Corp. (NASDAQ:PROF) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 490,000 shares of the company’s stock, valued at approximately $3,680,000. MMCAP International Inc. SPC owned about 1.63% of Profound Medical as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Raymond James Trust N.A. grew its stake in shares of Profound Medical by 14.3% in the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock worth $96,000 after purchasing an additional 1,500 shares during the last quarter. MTM Investment Management LLC grew its stake in shares of Profound Medical by 10.4% in the fourth quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock worth $139,000 after purchasing an additional 1,750 shares during the last quarter. Royce & Associates LP grew its stake in shares of Profound Medical by 0.6% in the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after purchasing an additional 3,500 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Profound Medical by 36.2% in the third quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock worth $811,000 after purchasing an additional 27,100 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in shares of Profound Medical in the third quarter worth $398,000. Institutional investors own 47.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

Profound Medical Price Performance

PROF stock opened at $7.10 on Wednesday. The firm has a market cap of $213.28 million, a price-to-earnings ratio of -5.30 and a beta of 0.88. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11. Profound Medical Corp. has a 12-month low of $5.63 and a 12-month high of $11.42. The company’s fifty day simple moving average is $7.02 and its 200 day simple moving average is $7.69.

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.