ProMIS Neurosciences, Inc. (NASDAQ:PMN) Sees Significant Growth in Short Interest

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 250,600 shares, a growth of 18.3% from the January 15th total of 211,900 shares. Based on an average trading volume of 53,900 shares, the short-interest ratio is currently 4.6 days. Currently, 1.1% of the company’s stock are sold short.

Institutional Investors Weigh In On ProMIS Neurosciences

Institutional investors have recently modified their holdings of the company. Allostery Investments LP acquired a new position in shares of ProMIS Neurosciences in the fourth quarter valued at approximately $185,000. Ally Bridge Group NY LLC raised its stake in shares of ProMIS Neurosciences by 50.3% in 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 acquiring an additional 533,023 shares in the last quarter. Sphera Funds Management LTD. raised its stake in shares of ProMIS Neurosciences by 6.3% in the third quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock valued at $2,412,000 after acquiring an additional 115,084 shares in the last quarter. Finally, Great Point Partners LLC purchased a new position in ProMIS Neurosciences in the third quarter valued at $3,488,000. 50.13% of the stock is owned by institutional investors and hedge funds.

ProMIS Neurosciences Stock Performance

Shares of ProMIS Neurosciences stock traded down $0.01 during trading on Monday, hitting $0.95. 65,054 shares of the company’s stock were exchanged, compared to its average volume of 40,486. The stock has a market capitalization of $31.06 million, a price-to-earnings ratio of -9.50 and a beta of 0.56. ProMIS Neurosciences has a 52-week low of $0.87 and a 52-week high of $2.61. The business has a 50-day simple moving average of $0.94 and a 200-day simple moving average of $1.07.

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.