Short Interest in ProMIS Neurosciences, Inc. (NASDAQ:PMN) Rises By 37.4%

Posted by Renee Jackson on Feb 1st, 2025

ProMIS Neurosciences, Inc. (NASDAQ:PMN – Get Free Report) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 225,700 shares, an increase of 37.4% from the December 31st total of 164,300 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 68,800 shares, the short-interest ratio is presently 3.3 days.

ProMIS Neurosciences Stock Performance

Shares of ProMIS Neurosciences stock opened at $0.91 on Friday. The company has a fifty day moving average of $0.94 and a 200 day moving average of $1.15. The company has a market capitalization of $29.73 million, a P/E ratio of -9.10 and a beta of 0.54. ProMIS Neurosciences has a fifty-two week low of $0.87 and a fifty-two week high of $2.61.

Institutional Investors Weigh In On ProMIS Neurosciences

A number of institutional investors have recently added to or reduced their stakes in PMN. Great Point Partners LLC purchased a new stake in shares of ProMIS Neurosciences in the third quarter worth about $3,488,000. Sphera Funds Management LTD. increased its position in ProMIS Neurosciences by 6.3% in the third quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock worth $2,412,000 after purchasing an additional 115,084 shares during the last quarter. Finally, 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 valued at $1,991,000 after purchasing an additional 533,023 shares during the last quarter. 50.13% of the stock is owned by hedge funds and other institutional investors.

About ProMIS Neurosciences

(Get Free Report)

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.