Profound Medical (TSE:PRN) Hits New 12-Month Low – Here’s Why

Shares of Profound Medical Corp. (TSE:PRN) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$6.77 and last traded at C$8.61, with a volume of 65960 shares changing hands. The stock had previously closed at C$8.85.

Profound Medical Price Performance

The company has a debt-to-equity ratio of 20.05, a current ratio of 6.12 and a quick ratio of 14.98. The stock has a market capitalization of C$21.35 million, a P/E ratio of -4.51 and a beta of 1.17. The stock’s fifty day moving average is C$9.69 and its 200-day moving average is C$10.35.

Insiders Place Their Bets

In related news, Director Arun Menawat Dr. purchased 14,200 shares of the stock in a transaction on Friday, March 14th. The shares were bought at an average price of C$10.09 per share, for a total transaction of C$143,319.75. 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.