Chicago Capital Expands Stake in PROCEPT BioRobotics Amid Valuation Dip

Chicago Capital, LLC has expanded its holding in PROCEPT BioRobotics Corporation (NASDAQ: PRCT), acquiring an estimated $27.32 million in additional shares during the first quarter of 2026. The acquisition of 969,592 shares brings the fund's total position to 2,160,587 shares, valued at approximately $54.04 million. This position now represents 1.46% of Chicago Capital's $3.71 billion in 13F reportable assets under management. PROCEPT BioRobotics specializes in minimally invasive urologic solutions, specifically the AquaBeam Robotic System for treating benign prostatic hyperplasia (BPH). While the stock has faced significant headwinds—dropping 56.5% over the past year and 76% from its 2024 peak—operational metrics indicate strong underlying growth. Since 2022, the company's installed base grew from 167 to 718 units, and procedure counts surged from 7,400 to 43,000. Financially, the company is trending toward profitability. EBITDA margins have improved from -91% to -16%, while gross margins have climbed from 49% to 64%. Furthermore, a recent "strong recommendation" from the European Association of Urology is expected to facilitate continued international expansion. The investment comes as PRCT trades at a valuation of 4.2 times sales. The move reflects a consistent "buy the dip" strategy by Chicago Capital, which has added to the position in seven of the last eight quarters as the share price declined from $80 to $25.