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

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 200,500 shares, a growth of 30.1% from the February 28th total of 154,100 shares. Based on an average daily volume of 44,800 shares, the days-to-cover ratio is currently 4.5 days. Approximately 0.9% of the shares of the stock are sold short.

ProMIS Neurosciences Price Performance

NASDAQ PMN traded down $0.00 during trading on Monday, hitting $0.70. 39,711 shares of the company’s stock traded hands, compared to its average volume of 41,892. The stock has a fifty day moving average of $0.82 and a two-hundred day moving average of $0.96. ProMIS Neurosciences has a 12-month low of $0.62 and a 12-month high of $2.61. The firm has a market cap of $22.74 million, a P/E ratio of -6.96 and a beta of 0.58.

Analyst Ratings Changes

Separately, Guggenheim reissued a “buy” rating on shares of ProMIS Neurosciences in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On ProMIS Neurosciences

A hedge fund recently bought a new stake in ProMIS Neurosciences stock. Allostery Investments LP acquired a new stake in shares of ProMIS Neurosciences, Inc. (NASDAQ:PMN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 195,111 shares of the company’s stock, valued at approximately $185,000. Allostery Investments LP owned 0.60% of ProMIS Neurosciences as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 50.13% of the company’s stock.

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.