ProMIS Neurosciences, Inc. (NASDAQ:PMN) Short Interest Down 16.6% in November

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 200,100 shares, a drop of 16.6% from the October 31st total of 239,800 shares. Based on an average trading volume of 69,100 shares, the days-to-cover ratio is currently 2.9 days. Approximately 1.0% of the company’s shares are short sold.

ProMIS Neurosciences Price Performance

PMN stock opened at $0.94 on Friday. The company has a market cap of $30.73 million, a price-to-earnings ratio of -9.40 and a beta of 0.60. ProMIS Neurosciences has a twelve month low of $0.88 and a twelve month high of $3.10. The business has a 50 day moving average price of $1.06 and a two-hundred day moving average price of $1.40.

Insider Buying and Selling at ProMIS Neurosciences

In other ProMIS Neurosciences news, Director Madge K. Shafmaster bought 70,000 shares of ProMIS Neurosciences stock in a transaction on Monday, September 23rd. The shares were purchased at an average cost of $1.28 per share, for a total transaction of $89,600.00. Following the completion of the acquisition, the director now owns 138,333 shares in the company, valued at approximately $177,066.24. The trade was a 102.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On ProMIS Neurosciences

Institutional investors have recently modified their holdings of the company. Sphera Funds Management LTD. increased its holdings in ProMIS Neurosciences by 6.3% in the third 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. Ally Bridge Group NY LLC lifted 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 valued at $1,991,000 after acquiring an additional 533,023 shares during the period. Finally, Great Point Partners LLC acquired a new position in shares of ProMIS Neurosciences during the 3rd quarter valued at $3,488,000. 50.13% of the stock is owned by institutional investors.

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.