ProMIS Neurosciences’ (PMN) Buy Rating Reaffirmed at Guggenheim

Guggenheim reaffirmed their buy rating on shares of ProMIS Neurosciences (NASDAQ:PMN) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $6.00 price objective on the stock.

ProMIS Neurosciences Stock Up 5.2 %

ProMIS Neurosciences stock opened at $0.73 on Tuesday. The stock has a market cap of $23.93 million, a P/E ratio of -7.32 and a beta of 0.58. The company’s 50 day moving average price is $0.82 and its two-hundred day moving average price is $0.96. ProMIS Neurosciences has a 52 week low of $0.62 and a 52 week high of $2.61.

Hedge Funds Weigh In On ProMIS Neurosciences

A hedge fund recently raised its stake in ProMIS Neurosciences stock. Sphera Funds Management LTD. lifted its position in shares of ProMIS Neurosciences, Inc. (NASDAQ:PMN) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,929,297 shares of the company’s stock after acquiring an additional 115,084 shares during the quarter. Sphera Funds Management LTD. owned approximately 6.45% of ProMIS Neurosciences worth $2,412,000 at the end of the most recent quarter. 50.13% of the stock is currently owned by institutional investors and hedge funds.

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.