ProMIS Neurosciences, Inc. (NASDAQ:PMN) Short Interest Up 37.4% in January

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

ProMIS Neurosciences Stock Performance

Shares of NASDAQ PMN opened at $0.91 on Friday. ProMIS Neurosciences has a fifty-two week low of $0.87 and a fifty-two week high of $2.61. The company has a market cap of $29.73 million, a PE ratio of -9.10 and a beta of 0.54. The business has a 50-day simple moving average of $0.94 and a two-hundred day simple moving average of $1.15.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Great Point Partners LLC purchased a new stake in ProMIS Neurosciences during the 3rd quarter valued at about $3,488,000. Ally Bridge Group NY LLC raised its holdings in shares of 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 worth $1,991,000 after purchasing an additional 533,023 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted 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 valued at $2,412,000 after purchasing an additional 115,084 shares during the period. Institutional investors and hedge funds own 50.13% of the company’s stock.

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.