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

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 225,700 shares, a growth of 37.4% from the December 31st total of 164,300 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 68,800 shares, the short-interest ratio is presently 3.3 days.

Institutional Trading of ProMIS Neurosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Great Point Partners LLC purchased a new stake in shares of ProMIS Neurosciences during the 3rd quarter valued at approximately $3,488,000. Sphera Funds Management LTD. increased its stake 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 worth $2,412,000 after acquiring an additional 115,084 shares during the last quarter. Finally, Ally Bridge Group NY LLC raised its position 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 purchasing an additional 533,023 shares during the period. 50.13% of the stock is owned by institutional investors and hedge funds.

ProMIS Neurosciences Stock Up 2.2 %

NASDAQ:PMN opened at $0.91 on Friday. ProMIS Neurosciences has a one year low of $0.87 and a one year high of $2.61. The stock has a 50 day moving average price of $0.94 and a 200 day moving average price of $1.15.

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.