Promis Neurosciences (NASDAQ:PMN) Rating Lowered to Strong Sell at Wall Street Zen

Promis Neurosciences (NASDAQ:PMN) was downgraded by Wall Street Zen to a “strong sell” rating in a note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. Leede Financial raised Promis Neurosciences to a “moderate buy” rating in a research report on Monday, July 21st. HC Wainwright began coverage on Promis Neurosciences in a research report on Monday, July 14th. They set a “buy” rating and a $4.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Promis Neurosciences in a research report on Wednesday, October 8th. Three equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.33.

Promis Neurosciences Stock Down 3.9%

PMN stock opened at $0.49 on Friday. Promis Neurosciences has a twelve month low of $0.38 and a twelve month high of $1.59. The company has a market cap of $26.37 million, a PE ratio of -2.33 and a beta of -0.17. The business’s 50-day simple moving average is $0.51 and its 200 day simple moving average is $0.55.

Promis Neurosciences (NASDAQ:PMN) last released its earnings results on Wednesday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). On average, equities research analysts anticipate that Promis Neurosciences will post -0.24 EPS 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 raised its stake in shares of Promis Neurosciences (NASDAQ:PMN) by 19.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 233,703 shares of the company’s stock after purchasing an additional 38,592 shares during the quarter. Allostery Investments LP owned 0.71% of Promis Neurosciences worth $165,000 as of its most recent filing with the Securities and Exchange Commission. 50.13% of the stock is owned by institutional investors and hedge funds.

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.