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

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

Insider Transactions at ProMIS Neurosciences

In other ProMIS Neurosciences news, Director Madge K. Shafmaster purchased 70,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $1.28 per share, for a total transaction of $89,600.00. Following the completion of the purchase, the director now owns 138,333 shares of the company’s stock, valued at approximately $177,066.24. The trade was a 102.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On ProMIS Neurosciences

A number of hedge funds have recently modified their holdings of PMN. Great Point Partners LLC acquired a new position in ProMIS Neurosciences in the 3rd quarter valued at about $3,488,000. Ally Bridge Group NY LLC boosted its stake in shares of ProMIS Neurosciences by 50.3% in the third quarter. Ally Bridge Group NY LLC now owns 1,592,605 shares of the company’s stock valued at $1,991,000 after buying an additional 533,023 shares in the last quarter. Finally, Sphera Funds Management LTD. boosted its holdings in ProMIS Neurosciences by 6.3% during the third quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock worth $2,412,000 after buying an additional 115,084 shares in the last quarter. Hedge funds and other institutional investors own 50.13% of the company’s stock.

ProMIS Neurosciences Stock Performance

NASDAQ PMN opened at $0.94 on Monday. The stock has a market capitalization 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 stock has a 50-day moving average of $1.06 and a 200 day moving average of $1.39.

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.