Profound Medical CEO Swarup Buys 22,030 Shares in Two Days

Profound Medical Corp. (NASDAQ: PROF) recently disclosed that Director and CEO, Menawat Arun Swarup, has made significant purchases of the company's shares. On May 15, 2023, Swarup acquired 10,003 shares at a price of $4.33 per share. The following day, May 16, 2023, he purchased an additional 12,027 shares at a price of $4.73 per share.

Profound Medical Corp. (NASDAQ: PROF) recently disclosed that Director and CEO, Menawat Arun Swarup, has made significant purchases of the company's shares. On May 15, 2023, Swarup acquired 10,003 shares at a price of $4.33 per share. The following day, May 16, 2023, he purchased an additional 12,027 shares at a price of $4.73 per share.

These transactions, totaling 22,030 shares, represent a significant investment by the CEO, who is also the Chairman of the Board. The purchases, made at a time when the stock price was relatively low, indicate a level of optimism about the company's future prospects. Swarup's actions align with the broader trend of insider buying, which is often seen as a positive signal for investors [1].

Over the past year, insiders at Profound Medical have been active buyers, with notable purchases at higher prices. This suggests that insiders view the stock as undervalued, even when the share price was higher. The company's insiders own 7.9% of the company, worth approximately $16 million, indicating a reasonable degree of alignment between insider interests and those of shareholders [1].

However, it is essential to consider the broader context. Profound Medical reported a loss during the last year, which may temper some of the optimism. The company faces risks, and investors should be aware of these potential challenges. Nevertheless, the recent insider transactions can provide valuable insights into the company's outlook and may help build a more informed investment thesis.

References:
[1] https://finance.yahoo.com/news/arun-menawat-bought-2-1-122026881.html