ProMIS Neurosciences, Inc. (NASDAQ:PMN) Short Interest Down 20.9% in February

ProMIS Neurosciences, Inc. (NASDAQ:PMN) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 154,100 shares, a drop of 20.9% from the February 13th total of 194,800 shares. Based on an average daily trading volume, of 58,000 shares, the short-interest ratio is presently 2.7 days. Approximately 0.7% of the shares of the company are sold short.

Analyst Ratings Changes

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

ProMIS Neurosciences Stock Performance

Shares of NASDAQ PMN traded down $0.04 during midday trading on Wednesday, hitting $0.69. 22,806 shares of the stock traded hands, compared to its average volume of 70,271. The firm has a market capitalization of $22.56 million, a P/E ratio of -6.90 and a beta of 0.58. ProMIS Neurosciences has a one year low of $0.62 and a one year high of $2.61. The firm has a 50-day moving average of $0.87 and a two-hundred day moving average of $0.99.

Hedge Funds Weigh In On ProMIS Neurosciences

Several institutional investors have recently made changes to their positions in the business. Sphera Funds Management LTD. raised 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 acquiring an additional 115,084 shares during the period. Allostery Investments LP bought a new position in ProMIS Neurosciences in the 4th quarter worth $185,000. 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 in the last quarter. Finally, Great Point Partners LLC bought a new stake in ProMIS Neurosciences during the third quarter valued at about $3,488,000. Institutional investors own 50.13% of the company’s stock.

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.