ProMIS Neurosciences (NASDAQ:PMN) Shares Up 2.8% – Should You Buy?

ProMIS Neurosciences, Inc. (NASDAQ:PMN) shares shot up 2.8% during trading on Thursday . The stock traded as high as $0.93 and last traded at $0.93. 82,139 shares were traded during mid-day trading, an increase of 15% from the average session volume of 71,403 shares. The stock had previously closed at $0.91.

ProMIS Neurosciences Stock Up 2.8 %

The firm has a market capitalization of $30.40 million, a PE ratio of -9.30 and a beta of 0.54. The stock has a 50-day moving average price of $0.98 and a 200 day moving average price of $1.29.

Institutional Trading of ProMIS Neurosciences

Several institutional investors have recently modified their holdings of the stock. Great Point Partners LLC purchased a new stake in shares of ProMIS Neurosciences during the third quarter worth approximately $3,488,000. Sphera Funds Management LTD. boosted its position 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 acquiring an additional 115,084 shares during the last quarter. Finally, Ally Bridge Group NY LLC raised its holdings in ProMIS Neurosciences by 50.3% in 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 last quarter. Institutional investors and hedge funds 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.