ProMIS Neurosciences (NASDAQ:PMN) Receives Buy Rating from Guggenheim

ProMIS Neurosciences (NASDAQ:PMN)‘s stock had its “buy” rating reissued by Guggenheim in a research note issued on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the stock.

ProMIS Neurosciences Stock Performance

Shares of NASDAQ PMN traded up $0.03 during mid-day trading on Tuesday, reaching $0.73. 55,461 shares of the company’s stock were exchanged, compared to its average volume of 70,581. The firm has a market capitalization of $23.70 million, a price-to-earnings ratio of -7.25 and a beta of 0.58. ProMIS Neurosciences has a 52-week low of $0.62 and a 52-week high of $2.61. The company’s 50-day moving average is $0.82 and its 200-day moving average is $0.96.

Hedge Funds Weigh In On ProMIS Neurosciences

An institutional investor recently raised its position in ProMIS Neurosciences stock. Sphera Funds Management LTD. raised its position in shares of ProMIS Neurosciences, Inc. (NASDAQ:PMN) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,929,297 shares of the company’s stock after buying an additional 115,084 shares during the period. Sphera Funds Management LTD. owned about 6.45% of ProMIS Neurosciences worth $2,412,000 as of its most recent filing with the Securities & Exchange Commission. 50.13% of the stock is currently owned by hedge funds and other institutional investors.

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.