ProMIS Neurosciences (NASDAQ:PMN) Shares Up 9.4%

Shares of ProMIS Neurosciences, Inc. (NASDAQ:PMN) traded up 9.4% during trading on Wednesday . The stock traded as high as $1.54 and last traded at $1.44. 12,253 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 116,552 shares. The stock had previously closed at $1.32.

Analyst Ratings Changes

Separately, BTIG Research initiated coverage on shares of ProMIS Neurosciences in a research note on Monday, October 2nd. They set a “buy” rating and a $8.00 target price for the company.

ProMIS Neurosciences Price Performance

The business has a 50-day moving average of $1.84 and a 200 day moving average of $3.23.

ProMIS Neurosciences (NASDAQ:PMN) last announced its quarterly earnings results on Monday, August 14th. The company reported ($0.27) earnings per share for the quarter. As a group, analysts anticipate that ProMIS Neurosciences, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProMIS Neurosciences stock. Affinity Asset Advisors LLC bought a new position in ProMIS Neurosciences, Inc. (NASDAQ:PMN) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 265,958 shares of the company’s stock, valued at approximately $527,000. Affinity Asset Advisors LLC owned 3.10% of ProMIS Neurosciences as of its most recent filing with the SEC. Hedge funds and other institutional investors own 2.18% 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.