ProMIS Neurosciences, Inc. (NASDAQ:PMN) Sees Large Drop in Short Interest

ProMIS Neurosciences, Inc. (NASDAQ:PMN) saw a significant decrease in short interest in the month of 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. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 58,000 shares, the days-to-cover ratio is presently 2.7 days.

ProMIS Neurosciences Trading Down 4.8 %

NASDAQ PMN traded down $0.04 on Monday, hitting $0.73. 16,087 shares of the company were exchanged, compared to its average volume of 46,260. The company has a market cap of $23.93 million, a PE ratio of -7.32 and a beta of 0.58. ProMIS Neurosciences has a 12 month low of $0.62 and a 12 month high of $2.61. The stock has a fifty day moving average of $0.88 and a 200-day moving average of $1.00.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Allostery Investments LP bought a new position in shares of ProMIS Neurosciences during the fourth quarter valued at about $185,000. Ally Bridge Group NY LLC lifted its position in shares of 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 valued at $1,991,000 after purchasing an additional 533,023 shares in the last quarter. Sphera Funds Management LTD. lifted its position in shares of ProMIS Neurosciences by 6.3% during the third quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock valued at $2,412,000 after purchasing an additional 115,084 shares in the last quarter. Finally, Great Point Partners LLC bought a new position in shares of ProMIS Neurosciences during the third quarter valued at about $3,488,000. 50.13% of the stock is owned by institutional investors.

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.