ProMIS Neurosciences, Inc. (NASDAQ:PMN) Sees Significant Increase in Short Interest

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 239,800 shares, an increase of 74.0% from the October 15th total of 137,800 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average trading volume of 68,200 shares, the short-interest ratio is currently 3.5 days.

ProMIS Neurosciences Stock Performance

NASDAQ:PMN remained flat at $0.98 during trading hours on Wednesday. 26,675 shares of the company’s stock traded hands, compared to its average volume of 71,957. The firm has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.48. The stock has a market cap of $29.29 million, a P/E ratio of -1.63 and a beta of 0.60. ProMIS Neurosciences has a 1 year low of $0.92 and a 1 year high of $3.10.

Insider Activity

In other ProMIS Neurosciences news, Director Madge K. Shafmaster bought 60,000 shares of ProMIS Neurosciences stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $1.25 per share, with a total value of $75,000.00. Following the acquisition, the director now directly owns 68,333 shares of the company’s stock, valued at $85,416.25. The trade was a 700.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Madge K. Shafmaster purchased 70,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average price of $1.28 per share, with a total value of $89,600.00. Following the completion of the acquisition, the director now directly owns 138,333 shares in the company, valued at approximately $177,066.24. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Madge K. Shafmaster acquired 60,000 shares of ProMIS Neurosciences stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $1.25 per share, for a total transaction of $75,000.00. Following the acquisition, the director now owns 68,333 shares in the company, valued at approximately $85,416.25. This represents a 700.00 % increase in their position. The disclosure for this purchase can be found here. 4.40% of the stock is owned by company insiders.

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.