Frankenius Equity AB, a significant shareholder in TriSalus Life Sciences, Inc. (NASDAQ:TLSI), has increased its stake in the company by purchasing additional shares. The transaction comes as TriSalus, currently valued at $112 million, demonstrates strong operational metrics with an impressive 87.1% gross profit margin and 67.9% revenue growth in the last twelve months. InvestingPro analysis suggests the stock is currently undervalued. According to a recent SEC filing, Frankenius Equity AB acquired 62,972 shares of common stock at a price of $3.97 per share. This transaction, valued at approximately $249,998, was completed on December 17, 2024.
Following this acquisition, Frankenius Equity AB now holds a total of 6,230,748 shares in TriSalus Life Sciences. The shares were issued in connection with the closing of a transaction outlined in a Securities Purchase Agreement dated December 12, 2024, between TriSalus and Frankenius Equity AB.
In other recent news, TriSalus Life Sciences has been the focus of several analyst updates and company developments. Canaccord Genuity (TSX:CF) maintained a Buy rating on TriSalus shares but reduced the price target to $11.00 following the company's third-quarter revenue report of $7.3 million. The company also announced its fiscal year 2024 guidance, expecting over 50% revenue growth and targeting between $28 million and $30 million.
Roth/MKM initiated coverage of TriSalus with a Buy rating and a price target of $11.00, emphasizing the potential of the company's TriNav catheter and Pressure Enabled Drug Delivery (PEDD) technology. Northland also initiated coverage of TriSalus with an Outperform rating, citing the potential for the TriNav system to become the standard of care for certain medical procedures.
TriSalus announced the appointment of Dr. Riad Salem, a renowned expert in interventional radiology, to its Scientific Advisory Board and the addition of Liselotte Hyveled, a veteran in pharmaceutical research and development, to its Board of Directors. In addition, the company reported a breakthrough in liver tumor treatment through its PEDD method. These recent developments highlight the ongoing progress and strategic initiatives of TriSalus Life Sciences.
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