ProMIS Neurosciences (NASDAQ:PMN) Earns “Buy” Rating from Guggenheim

ProMIS Neurosciences (NASDAQ:PMN)‘s stock had its “buy” rating reissued by equities research analysts at Guggenheim in a report released on Wednesday,Benzinga reports.

ProMIS Neurosciences Trading Down 4.5 %

PMN stock opened at $0.74 on Wednesday. The stock has a 50-day moving average price of $0.93 and a two-hundred day moving average price of $1.05. The stock has a market cap of $24.03 million, a PE ratio of -7.35 and a beta of 0.56. ProMIS Neurosciences has a 1 year low of $0.65 and a 1 year high of $2.61.

Hedge Funds Weigh In On ProMIS Neurosciences

A number of large investors have recently modified their holdings of PMN. Allostery Investments LP acquired a new position in shares of ProMIS Neurosciences during the 4th quarter worth about $185,000. Ally Bridge Group NY LLC lifted its position in ProMIS Neurosciences by 50.3% during the third quarter. Ally Bridge Group NY LLC now owns 1,592,605 shares of the company’s stock worth $1,991,000 after acquiring an additional 533,023 shares during the last quarter. Sphera Funds Management LTD. lifted its position in ProMIS Neurosciences by 6.3% during the third quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock worth $2,412,000 after acquiring an additional 115,084 shares during the last quarter. Finally, Great Point Partners LLC acquired a new stake in ProMIS Neurosciences during the third quarter worth approximately $3,488,000. 50.13% of the stock is currently owned by institutional investors and hedge funds.

About ProMIS Neurosciences

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.