Short Interest in ProMIS Neurosciences, Inc. (NASDAQ:PMN) Expands By 37.4%

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 225,700 shares, a growth of 37.4% from the December 15th total of 164,300 shares. Based on an average daily volume of 68,800 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.0% of the company’s shares are short sold.

Institutional Investors Weigh In On ProMIS Neurosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Ally Bridge Group NY LLC lifted 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 worth $1,991,000 after purchasing an additional 533,023 shares during the period. Sphera Funds Management LTD. lifted 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 buying an additional 115,084 shares during the period. Finally, Great Point Partners LLC purchased a new position in shares of ProMIS Neurosciences during the 3rd quarter worth approximately $3,488,000. Hedge funds and other institutional investors own 50.13% of the company’s stock.

ProMIS Neurosciences Trading Down 3.1 %

Shares of PMN stock traded down $0.03 during mid-day trading on Friday, reaching $0.88. The stock had a trading volume of 41,560 shares, compared to its average volume of 56,928. The stock’s 50-day moving average price is $0.96 and its two-hundred day moving average price is $1.22. The firm has a market capitalization of $28.83 million, a PE ratio of -8.82 and a beta of 0.54. ProMIS Neurosciences has a 52-week low of $0.87 and a 52-week 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.