Promis Neurosciences (NASDAQ:PMN) Director Eugene Williams Purchases 1,000 Shares of Stock

Promis Neurosciences (NASDAQ:PMN) Director Eugene Williams acquired 1,000 shares of Promis Neurosciences stock in a transaction dated Monday, March 2nd. The shares were bought at an average price of $22.53 per share, for a total transaction of $22,530.00. Following the transaction, the director owned 7,397 shares of the company’s stock, valued at approximately $166,654.41. The trade was a 15.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Eugene Williams also recently made the following trade(s):

• On Wednesday, March 4th, Eugene Williams bought 2,000 shares of Promis Neurosciences stock. The shares were bought at an average price of $24.00 per share, with a total value of $48,000.00.

Promis Neurosciences Stock Up 10.2%

NASDAQ PMN traded up $2.45 on Thursday, reaching $26.50. The company had a trading volume of 57,184 shares, compared to its average volume of 229,774. The stock has a market capitalization of $56.98 million, a PE ratio of -1.39 and a beta of -0.23. Promis Neurosciences has a 12 month low of $6.27 and a 12 month high of $39.75. The firm’s 50 day moving average price is $12.52 and its 200 day moving average price is $11.23.

Analyst Ratings Changes

Several equities analysts have weighed in on PMN shares. Guggenheim cut their price target on Promis Neurosciences from $125.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Promis Neurosciences in a research report on Thursday, January 22nd. HC Wainwright restated a “buy” rating and set a $18.00 target price (up from $4.00) on shares of Promis Neurosciences in a research report on Monday, December 1st. Finally, Wall Street Zen cut Promis Neurosciences to a “strong sell” rating in a research note on Saturday, February 14th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.67.

Institutional Trading of Promis Neurosciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ally Bridge Group NY LLC grew its holdings in shares of Promis Neurosciences by 367.1% in the third quarter. Ally Bridge Group NY LLC now owns 6,233,497 shares of the company’s stock worth $2,649,000 after purchasing an additional 4,899,069 shares during the last quarter. Armistice Capital LLC boosted its holdings in shares of Promis Neurosciences by 39.1% in the third quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock valued at $1,264,000 after purchasing an additional 836,622 shares during the period. Finally, Citadel Advisors LLC increased its holdings in Promis Neurosciences by 168.1% during the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock worth $72,000 after purchasing an additional 106,650 shares during the period. 50.13% of the stock is currently owned by institutional investors.

About Promis Neurosciences

Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.