ProMIS Neurosciences, Inc. (NASDAQ:PMN) Short Interest Down 22.3% in February

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 194,800 shares, a decline of 22.3% from the January 31st total of 250,600 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 58,800 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On ProMIS Neurosciences

Large investors have recently modified their holdings of the stock. Sphera Funds Management LTD. increased its holdings in ProMIS Neurosciences by 6.3% during the 3rd 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. Allostery Investments LP acquired a new stake in shares of ProMIS Neurosciences during the 4th quarter worth approximately $185,000. Ally Bridge Group NY LLC lifted its stake in 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 buying an additional 533,023 shares during the last quarter. Finally, Great Point Partners LLC acquired a new position in ProMIS Neurosciences during the 3rd quarter valued at about $3,488,000. Institutional investors and hedge funds own 50.13% of the company’s stock.

ProMIS Neurosciences Stock Performance

NASDAQ PMN traded down $0.04 during trading hours on Thursday, hitting $0.74. 1,699 shares of the company’s stock were exchanged, compared to its average volume of 49,258. The firm has a market capitalization of $24.22 million, a P/E ratio of -7.41 and a beta of 0.56. The business’s 50 day moving average is $0.91 and its 200-day moving average is $1.03. ProMIS Neurosciences has a 12-month low of $0.62 and a 12-month high of $2.61.

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.