Profound Medical (TSE:PRN) Shares Down 2.2% – Here’s What Happened

Profound Medical Corp. (TSE:PRN)’s stock price was down 2.2% during trading on Monday . The company traded as low as C$10.89 and last traded at C$10.97. Approximately 11,449 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 12,387 shares. The stock had previously closed at C$11.22.

Wall Street Analyst Weigh In

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

Profound Medical Stock Down 2.2 %

The company has a quick ratio of 14.98, a current ratio of 8.61 and a debt-to-equity ratio of 16.95. The firm’s fifty day simple moving average is C$10.83 and its 200-day simple moving average is C$11.55. The company has a market cap of C$268.55 million, a PE ratio of -6.61 and a beta of 0.81.

Insider Buying and Selling at Profound Medical

In other news, Senior Officer Thomas Michael Tamberrino acquired 13,333 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average price of C$10.65 per share, with a total value of C$141,996.45. Also, Director Arun Menawat Dr. bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average price of C$10.65 per share, for a total transaction of C$213,000.00. 8.62% of the stock is owned by insiders.

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.