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

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

Insiders Place Their Bets

In other ProMIS Neurosciences news, Director Madge K. Shafmaster acquired 60,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average cost of $1.25 per share, with a total value of $75,000.00. Following the completion of the transaction, the director now directly owns 68,333 shares of the company’s stock, valued at approximately $85,416.25. This represents a 720.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PMN. Sphera Funds Management LTD. boosted its stake in shares of 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 buying an additional 115,084 shares during the last quarter. Ally Bridge Group NY LLC lifted its holdings in ProMIS Neurosciences by 50.3% in the third 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 during the period. Finally, Great Point Partners LLC purchased a new position in ProMIS Neurosciences in the third quarter worth about $3,488,000. 50.13% of the stock is owned by hedge funds and other institutional investors.

ProMIS Neurosciences Stock Performance

PMN opened at $0.94 on Friday. The company’s 50-day simple moving average is $1.06 and its two-hundred day simple moving average is $1.39. The stock has a market capitalization of $30.73 million, a P/E 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.