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

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the recipient of a significant decrease in short interest during the month of 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. Based on an average daily volume of 69,100 shares, the days-to-cover ratio is presently 2.9 days. Currently, 1.0% of the company’s stock are short sold.

Insider Activity

In other news, Director Madge K. Shafmaster purchased 70,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average cost of $1.28 per share, with a total value of $89,600.00. Following the completion of the transaction, the director now directly owns 138,333 shares of the company’s stock, valued at approximately $177,066.24. This trade represents a 102.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of ProMIS Neurosciences

A number of large investors have recently bought and sold shares of the company. Great Point Partners LLC purchased a new position in shares of ProMIS Neurosciences in the third quarter valued at $3,488,000. Sphera Funds Management LTD. boosted its stake in ProMIS Neurosciences by 6.3% in the 3rd 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, Ally Bridge Group NY LLC grew its holdings 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 buying an additional 533,023 shares in the last quarter. 50.13% of the stock is owned by hedge funds and other institutional investors.

ProMIS Neurosciences Stock Performance

Shares of ProMIS Neurosciences stock opened at $0.94 on Friday. The firm has a market capitalization of $30.73 million, a P/E ratio of -9.40 and a beta of 0.60. The business’s fifty day simple moving average is $1.06 and its 200 day simple moving average is $1.40. ProMIS Neurosciences has a 12 month low of $0.88 and a 12 month high of $3.10.

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.