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

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

Institutional Investors Weigh In On ProMIS Neurosciences

A number of large investors have recently bought and sold shares of the business. Great Point Partners LLC bought a new stake in ProMIS Neurosciences in the third quarter worth $3,488,000. Sphera Funds Management LTD. boosted its holdings 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 in the last quarter. Finally, Ally Bridge Group NY LLC boosted its holdings 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 worth $1,991,000 after purchasing an additional 533,023 shares in the last quarter. 50.13% of the stock is currently owned by institutional investors.

ProMIS Neurosciences Stock Down 0.7 %

Shares of ProMIS Neurosciences stock traded down $0.01 on Friday, hitting $0.95. 65,054 shares of the company traded hands, compared to its average volume of 40,486. The company has a 50-day moving average price of $0.94 and a 200 day moving average price of $1.07. ProMIS Neurosciences has a 12-month low of $0.87 and a 12-month high of $2.61. The company has a market cap of $31.06 million, a PE ratio of -9.50 and a beta of 0.56.

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.