K2 Principal Fund L.P. Sells 14,218 Shares of Profound Medical Corp. (NASDAQ:PROF)

K2 Principal Fund L.P. reduced its holdings in Profound Medical Corp. (NASDAQ:PROF) by 28.4% in the 4th quarter, HoldingsChannel reports. The fund owned 35,782 shares of the company’s stock after selling 14,218 shares during the period. K2 Principal Fund L.P.’s holdings in Profound Medical were worth $269,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. XTX Topco Ltd bought a new position in Profound Medical during the 4th quarter worth $114,000. MTM Investment Management LLC raised its position 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 worth $139,000 after acquiring an additional 1,750 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Profound Medical by 201.6% in the fourth quarter. Marshall Wace LLP now owns 36,216 shares of the company’s stock worth $272,000 after acquiring an additional 24,208 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in Profound Medical by 94.9% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 46,200 shares of the company’s stock valued at $346,000 after acquiring an additional 22,500 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in Profound Medical during the 4th quarter valued at approximately $376,000. Institutional investors own 47.86% of the company’s stock.

Profound Medical Stock Performance

PROF stock opened at $4.63 on Friday. The firm has a market cap of $139.15 million, a PE ratio of -3.46 and a beta of 0.44. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $5.58 and a 200-day moving average price of $6.74. Profound Medical Corp. has a 1-year low of $3.90 and a 1-year high of $11.42.

Profound Medical (NASDAQ:PROF) last issued its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). The business had revenue of $2.62 million during the quarter, compared to the consensus estimate of $4.78 million. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. As a group, equities research analysts expect that Profound Medical Corp. will post -1.12 earnings per share for the current year.

Analyst Ratings Changes

Separately, Lake Street Capital dropped their price target on shares of Profound Medical from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd.

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.