ProMIS Neurosciences, Inc. (NASDAQ:PMN) Short Interest Update

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 200,100 shares, a decrease of 16.6% from the October 31st total of 239,800 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 69,100 shares, the days-to-cover ratio is presently 2.9 days.

Insider Buying and Selling at ProMIS Neurosciences

In other ProMIS Neurosciences news, Director Madge K. Shafmaster acquired 60,000 shares of ProMIS Neurosciences stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $1.25 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the director now owns 68,333 shares in the company, valued at approximately $85,416.25. This represents a 720.03 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Trading of ProMIS Neurosciences

Institutional investors have recently modified their holdings of the company. Ally Bridge Group NY LLC grew its stake in ProMIS Neurosciences by 50.3% during 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 acquiring an additional 533,023 shares in the last quarter. Sphera Funds Management LTD. boosted its position in ProMIS Neurosciences by 6.3% during 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 during the period. Finally, Great Point Partners LLC bought a new position in ProMIS Neurosciences in the 3rd quarter worth approximately $3,488,000. Institutional investors and hedge funds own 50.13% of the company’s stock.

ProMIS Neurosciences Stock Performance

PMN stock opened at $0.94 on Monday. The firm’s 50-day moving average is $1.06 and its two-hundred day moving average is $1.39. The company has a market capitalization of $30.73 million, a price-to-earnings ratio of -9.40 and a beta of 0.60. ProMIS Neurosciences has a 52 week low of $0.88 and a 52 week high of $3.10.

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.