Ardsley Advisory Partners LP Grows Position in Profound Medical $PROF

Ardsley Advisory Partners LP grew its stake in shares of Profound Medical (NASDAQ:PROF) by 36.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 450,000 shares of the company’s stock after acquiring an additional 120,000 shares during the quarter. Ardsley Advisory Partners LP’s holdings in Profound Medical were worth $3,542,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Profound Medical by 56.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,727 shares of the company’s stock worth $147,000 after buying an additional 6,787 shares in the last quarter. Corsair Capital Management L.P. purchased a new position in Profound Medical during the fourth quarter worth $208,000. T3 Companies LLC purchased a new position in Profound Medical during the fourth quarter worth $378,000. Hohimer Wealth Management LLC purchased a new position in Profound Medical during the fourth quarter worth $394,000. Finally, TD Waterhouse Canada Inc. increased its position in Profound Medical by 2.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 77,493 shares of the company’s stock worth $582,000 after buying an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Profound Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.00.

Profound Medical Stock Down 2.4%

Shares of NASDAQ:PROF opened at $6.57 on Thursday. The company has a market cap of $238.75 million, a P/E ratio of -5.30 and a beta of 0.72. Profound Medical has a 52 week low of $3.76 and a 52 week high of $8.95. The business has a fifty day simple moving average of $6.76 and a 200-day simple moving average of $6.91.

Profound Medical (NASDAQ:PROF) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.05. Profound Medical had a negative return on equity of 78.88% and a negative net margin of 206.76%.The business had revenue of $5.34 million during the quarter, compared to the consensus estimate of $4.85 million. Sell-side analysts expect that Profound Medical will post -0.88 earnings per share for the current fiscal year.

About Profound Medical

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.