ProMIS Neurosciences (NASDAQ:PMN) Given “Buy” Rating at Guggenheim

ProMIS Neurosciences (NASDAQ:PMN)‘s stock had its “buy” rating reaffirmed by investment analysts at Guggenheim in a note issued to investors on Tuesday,Benzinga reports. They currently have a $6.00 price target on the stock.

ProMIS Neurosciences Trading Up 4.2 %

PMN traded up $0.03 on Tuesday, hitting $0.73. 55,461 shares of the company were exchanged, compared to its average volume of 70,581. The firm has a 50-day moving average price of $0.82 and a two-hundred day moving average price of $0.96. The company has a market cap of $23.70 million, a price-to-earnings ratio of -7.25 and a beta of 0.58. ProMIS Neurosciences has a twelve month low of $0.62 and a twelve month high of $2.61.

Institutional Investors Weigh In On ProMIS Neurosciences

A hedge fund recently bought a new stake in ProMIS Neurosciences stock. Allostery Investments LP bought a new stake in ProMIS Neurosciences, Inc. (NASDAQ:PMN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 195,111 shares of the company’s stock, valued at approximately $185,000. Allostery Investments LP owned about 0.60% of ProMIS Neurosciences at the end of the most recent reporting period. 50.13% of the stock is currently owned by hedge funds and other institutional investors.

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.