Max Milbury Buys 30,392 Shares of Promis Neurosciences (NASDAQ:PMN) Stock

Promis Neurosciences (NASDAQ:PMN) insider Max Milbury bought 30,392 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were bought at an average price of $0.49 per share, with a total value of $14,892.08. Following the completion of the transaction, the insider owned 45,389 shares of the company’s stock, valued at $22,240.61. The trade was a 202.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Promis Neurosciences Price Performance

Shares of Promis Neurosciences stock opened at $0.54 on Wednesday. Promis Neurosciences has a 1 year low of $0.38 and a 1 year high of $1.59. The firm has a market cap of $29.11 million, a PE ratio of -2.58 and a beta of -0.17. The company has a 50 day simple moving average of $0.53 and a two-hundred day simple moving average of $0.55.

Promis Neurosciences (NASDAQ:PMN) last announced its earnings results on Wednesday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.07). As a group, research analysts anticipate that Promis Neurosciences will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Promis Neurosciences

An institutional investor recently raised its position in Promis Neurosciences stock. Allostery Investments LP boosted its position in shares of Promis Neurosciences (NASDAQ:PMN) by 19.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 233,703 shares of the company’s stock after buying an additional 38,592 shares during the quarter. Allostery Investments LP owned approximately 0.71% of Promis Neurosciences worth $165,000 as of its most recent filing with the Securities & Exchange Commission. 50.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Leede Financial upgraded shares of Promis Neurosciences to a “moderate buy” rating in a report on Monday, July 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Promis Neurosciences in a report on Saturday, September 27th. Finally, HC Wainwright assumed coverage on shares of Promis Neurosciences in a report on Monday, July 14th. They issued a “buy” rating and a $4.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate 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.