Guggenheim reissued their buy rating on shares of ProMIS Neurosciences (NASDAQ:PMN – Free Report) in a report published on Wednesday morning,Benzinga reports.
ProMIS Neurosciences Price Performance
Shares of ProMIS Neurosciences stock opened at $0.73 on Wednesday. The business has a fifty day simple moving average of $0.92 and a two-hundred day simple moving average of $1.04. ProMIS Neurosciences has a 1 year low of $0.65 and a 1 year high of $2.61. The company has a market capitalization of $23.96 million, a price-to-earnings ratio of -7.33 and a beta of 0.56.
Institutional Investors Weigh In On ProMIS Neurosciences
A number of hedge funds and other institutional investors have recently modified their holdings of PMN. Great Point Partners LLC acquired a new stake in shares of ProMIS Neurosciences during the third quarter worth $3,488,000. Ally Bridge Group NY LLC lifted its holdings in shares of ProMIS Neurosciences by 50.3% during the third quarter. Ally Bridge Group NY LLC now owns 1,592,605 shares of the company’s stock worth $1,991,000 after buying an additional 533,023 shares in the last quarter. Sphera Funds Management LTD. lifted its holdings in shares of 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. Finally, Allostery Investments LP acquired a new stake in shares of ProMIS Neurosciences during the fourth quarter worth $185,000. 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.
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