Short Interest in ProMIS Neurosciences, Inc. (NASDAQ:PMN) Decreases By 20.9%

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 154,100 shares, a decrease of 20.9% from the February 13th total of 194,800 shares. Based on an average trading volume of 58,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 0.7% of the company’s stock are short sold.

ProMIS Neurosciences Price Performance

Shares of NASDAQ:PMN traded down $0.02 during midday trading on Tuesday, hitting $0.72. The company had a trading volume of 21,719 shares, compared to its average volume of 70,462. ProMIS Neurosciences has a 12-month low of $0.62 and a 12-month high of $2.61. The company has a market cap of $23.37 million, a price-to-earnings ratio of -7.15 and a beta of 0.58. The company has a fifty day moving average of $0.87 and a two-hundred day moving average of $0.99.

Analyst Ratings Changes

Separately, Guggenheim reissued a “buy” rating on shares of ProMIS Neurosciences in a report on Wednesday, February 26th.

Institutional Investors Weigh In On ProMIS Neurosciences

A number of institutional investors have recently bought and sold shares of the business. Allostery Investments LP purchased a new position in shares of ProMIS Neurosciences during the fourth quarter valued at about $185,000. Sphera Funds Management LTD. lifted its holdings in shares of ProMIS Neurosciences by 6.3% in the 3rd quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock valued at $2,412,000 after acquiring an additional 115,084 shares during the last quarter. Ally Bridge Group NY LLC lifted its holdings in shares of ProMIS Neurosciences by 50.3% in the 3rd quarter. Ally Bridge Group NY LLC now owns 1,592,605 shares of the company’s stock valued at $1,991,000 after acquiring an additional 533,023 shares during the last quarter. Finally, Great Point Partners LLC bought a new position in shares of ProMIS Neurosciences in the 3rd quarter valued at about $3,488,000. Hedge funds and other institutional investors own 50.13% of the company’s stock.

ProMIS Neurosciences Company Profile

ProMIS Neurosciences, Inc discovers and develops antibody therapies and therapeutic vaccines neurodegenerative diseases and other misfolded protein diseases in Canada. The company’s proprietary discovery platform comprises ProMIS and Collective Coordinates algorithms to predict novel targets known as disease specific epitopes on the molecular surface of misfolded proteins.