Profound Medical (TSE:PRN) Trading Down 2.2% – Here’s Why

Profound Medical Corp. (TSE:PRN)’s share price traded down 2.2% during trading on Thursday . The stock traded as low as C$9.82 and last traded at C$10.00. 3,040 shares were traded during mid-day trading, a decline of 48% from the average session volume of 5,801 shares. The stock had previously closed at C$10.22.

Profound Medical Stock Down 1.7 %

The firm has a 50-day moving average price of C$9.97 and a 200 day moving average price of C$10.55. 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 company has a market cap of C$207.14 million, a price-to-earnings ratio of -5.10 and a beta of 0.81.

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.