Profound Medical (TSE:PRN) Stock Price Up 2.6% – What’s Next?

Profound Medical Corp. (TSE:PRN) shares shot up 2.6% on Tuesday . The company traded as high as C$9.32 and last traded at C$9.13. 4,289 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 18,414 shares. The stock had previously closed at C$8.90.

Profound Medical Stock Up 2.6%

The firm’s fifty day moving average is C$10.26 and its 200-day moving average is C$8.53. The company has a market capitalization of C$331.36 million, a P/E ratio of -6.92 and a beta of 0.98. The company has a debt-to-equity ratio of 20.05, a quick ratio of 14.98 and a current ratio of 6.12.

Insider Activity at Profound Medical

In other news, insider Thomas Michael Tamberrino purchased 13,908 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was bought at an average cost of C$9.91 per share, for a total transaction of C$137,828.28. Following the purchase, the insider owned 39,241 shares of the company’s stock, valued at approximately C$388,878.31. The trade was a 54.90% increase in their ownership of the stock. Insiders own 8.62% of the company’s stock.

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.