ProMIS Neurosciences, Inc. (NASDAQ:PMN) Short Interest Up 37.4% in December

ProMIS Neurosciences, Inc. (NASDAQ:PMN) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 225,700 shares, an increase of 37.4% from the December 15th total of 164,300 shares. Based on an average daily volume of 68,800 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.0% of the shares of the company are sold short.

ProMIS Neurosciences Price Performance

ProMIS Neurosciences stock traded down $0.03 during trading hours on Friday, hitting $0.88. The company had a trading volume of 41,560 shares, compared to its average volume of 56,928. The firm has a market cap of $28.83 million, a PE ratio of -8.82 and a beta of 0.54. ProMIS Neurosciences has a one year low of $0.87 and a one year high of $2.61. The firm has a 50-day moving average of $0.96 and a 200 day moving average of $1.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ally Bridge Group NY LLC grew its position in shares of ProMIS Neurosciences by 50.3% during the 3rd quarter. Ally Bridge Group NY LLC now owns 1,592,605 shares of the company’s stock worth $1,991,000 after purchasing an additional 533,023 shares in the last quarter. Sphera Funds Management LTD. boosted its position in shares of ProMIS Neurosciences by 6.3% during the 3rd 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 in the last quarter. Finally, Great Point Partners LLC acquired a new stake in shares of ProMIS Neurosciences during the 3rd quarter worth approximately $3,488,000. Institutional investors and hedge funds own 50.13% of the company’s stock.

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.