Short Interest in ProMIS Neurosciences, Inc. (NASDAQ:PMN) Grows By 30.1%

ProMIS Neurosciences, Inc. (NASDAQ:PMN) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 200,500 shares, a growth of 30.1% from the February 28th total of 154,100 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 44,800 shares, the short-interest ratio is currently 4.5 days.

ProMIS Neurosciences Stock Performance

Shares of PMN stock traded up $0.04 during mid-day trading on Tuesday, hitting $0.73. 73,038 shares of the stock were exchanged, compared to its average volume of 70,651. The stock’s fifty day simple moving average is $0.82 and its two-hundred day simple moving average is $0.96. ProMIS Neurosciences has a 12-month low of $0.62 and a 12-month high of $2.61. The stock has a market capitalization of $23.93 million, a price-to-earnings ratio of -7.32 and a beta of 0.58.

ProMIS Neurosciences (NASDAQ:PMN) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.12. On average, research analysts expect that ProMIS Neurosciences will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Guggenheim restated a “buy” rating and issued a $6.00 target price on shares of ProMIS Neurosciences in a report on Tuesday.

Institutional Trading of ProMIS Neurosciences

A hedge fund recently bought a new stake in ProMIS Neurosciences stock. Allostery Investments LP bought a new position in shares of ProMIS Neurosciences, Inc. (NASDAQ:PMN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 195,111 shares of the company’s stock, valued at approximately $185,000. Allostery Investments LP owned 0.60% of ProMIS Neurosciences as of its most recent filing with the Securities and Exchange Commission (SEC). 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.