ProMIS Neurosciences, Inc. (NASDAQ:PMN) Sees Significant Growth in Short Interest

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 250,600 shares, a growth of 18.3% from the January 15th total of 211,900 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily volume of 53,900 shares, the days-to-cover ratio is currently 4.6 days.

ProMIS Neurosciences Stock Down 0.7 %

ProMIS Neurosciences stock traded down $0.01 during midday trading on Monday, reaching $0.95. The company’s stock had a trading volume of 65,054 shares, compared to its average volume of 40,486. The company has a market cap of $31.06 million, a P/E ratio of -9.50 and a beta of 0.56. The business has a 50-day simple moving average of $0.94 and a 200-day simple moving average of $1.07. ProMIS Neurosciences has a fifty-two week low of $0.87 and a fifty-two week high of $2.61.

Institutional Trading of ProMIS Neurosciences

Several institutional investors have recently modified their holdings of PMN. Great Point Partners LLC acquired a new position in ProMIS Neurosciences during the third quarter worth approximately $3,488,000. Ally Bridge Group NY LLC lifted its position 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 worth $1,991,000 after acquiring an additional 533,023 shares during the period. Allostery Investments LP purchased a new position in shares of ProMIS Neurosciences in the 4th quarter valued at approximately $185,000. Finally, Sphera Funds Management LTD. increased its holdings in shares of ProMIS Neurosciences by 6.3% in 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. Hedge funds and other 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.