Ally Bridge Group NY LLC Trims Stock Position in Promis Neurosciences $PMN

Ally Bridge Group NY LLC lessened its position in shares of Promis Neurosciences (NASDAQ:PMN) by 6.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,484,699 shares of the company’s stock after selling 107,906 shares during the quarter. Promis Neurosciences comprises about 0.9% of Ally Bridge Group NY LLC’s holdings, making the stock its 24th largest position. Ally Bridge Group NY LLC’s holdings in Promis Neurosciences were worth $1,033,000 at the end of the most recent reporting period.

Promis Neurosciences Stock Down 0.6%

Shares of PMN stock opened at $0.54 on Wednesday. Promis Neurosciences has a 52 week low of $0.38 and a 52 week high of $1.59. The stock has a market capitalization of $27.80 million, a PE ratio of -2.56 and a beta of -0.05. The firm has a 50 day moving average of $0.60 and a two-hundred day moving average of $0.61.

Promis Neurosciences (NASDAQ:PMN) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Analysts expect that Promis Neurosciences will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on PMN shares. HC Wainwright started coverage on shares of Promis Neurosciences in a report on Monday, July 14th. They issued a “buy” rating and a $4.00 target price for the company. Leede Financial upgraded shares of Promis Neurosciences to a “moderate buy” rating in a report on Monday, July 21st. Finally, Maxim Group started coverage on shares of Promis Neurosciences in a report on Monday, May 12th. They issued a “buy” rating and a $3.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $4.33.

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.