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

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 250,600 shares, an increase of 18.3% from the January 15th total of 211,900 shares. Based on an average daily volume of 53,900 shares, the short-interest ratio is presently 4.6 days. Currently, 1.1% of the shares of the stock are sold short.

ProMIS Neurosciences Trading Down 0.7 %

NASDAQ:PMN traded down $0.01 during midday trading on Friday, hitting $0.95. 65,054 shares of the stock were exchanged, compared to its average volume of 40,486. The company has a market capitalization of $31.06 million, a price-to-earnings ratio of -9.50 and a beta of 0.56. ProMIS Neurosciences has a one year low of $0.87 and a one year high of $2.61. The business has a 50-day moving average price of $0.94 and a two-hundred day moving average price of $1.07.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PMN. Great Point Partners LLC bought a new position in shares of ProMIS Neurosciences in the third quarter valued at $3,488,000. Ally Bridge Group NY LLC grew its position in 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. Finally, Sphera Funds Management LTD. grew its position in 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 purchasing an additional 115,084 shares in the last quarter. Institutional investors 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.