ProMIS Neurosciences’ (PMN) Buy Rating Reaffirmed at Guggenheim

Guggenheim restated their buy rating on shares of ProMIS Neurosciences (NASDAQ:PMN) in a research report report published on Wednesday,Benzinga reports.

ProMIS Neurosciences Stock Down 0.1 %

Shares of PMN opened at $0.75 on Wednesday. ProMIS Neurosciences has a fifty-two week low of $0.65 and a fifty-two week high of $2.61. The firm’s 50 day moving average price is $0.93 and its 200 day moving average price is $1.05. The company has a market cap of $24.52 million, a P/E ratio of -7.50 and a beta of 0.56.

Institutional Investors Weigh In On ProMIS Neurosciences

Several large investors have recently added to or reduced their stakes in PMN. Allostery Investments LP purchased a new stake in ProMIS Neurosciences during the 4th quarter worth approximately $185,000. Ally Bridge Group NY LLC increased its position in shares of ProMIS Neurosciences by 50.3% in the 3rd 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. Sphera Funds Management LTD. increased its position in shares of ProMIS Neurosciences by 6.3% in the 3rd quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock valued at $2,412,000 after purchasing an additional 115,084 shares during the last quarter. Finally, Great Point Partners LLC purchased a new stake in shares of ProMIS Neurosciences in the 3rd quarter valued at approximately $3,488,000. 50.13% of the stock is owned by hedge funds and other institutional investors.

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.