ProMIS Neurosciences, Inc. (NASDAQ:PMN) Short Interest Up 37.4% in December

ProMIS Neurosciences, Inc. (NASDAQ:PMN) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 225,700 shares, an increase of 37.4% from the December 15th total of 164,300 shares. Based on an average daily volume of 68,800 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On ProMIS Neurosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sphera Funds Management LTD. raised its position in ProMIS Neurosciences by 6.3% in the third quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock valued at $2,412,000 after purchasing an additional 115,084 shares during the last quarter. Ally Bridge Group NY LLC grew 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 purchasing an additional 533,023 shares during the last quarter. Finally, Great Point Partners LLC acquired a new position in shares of ProMIS Neurosciences in the third quarter valued at approximately $3,488,000. Institutional investors own 50.13% of the company’s stock.

ProMIS Neurosciences Price Performance

Shares of ProMIS Neurosciences stock opened at $0.91 on Thursday. The company’s 50 day moving average price is $0.96 and its two-hundred day moving average price is $1.23. The firm has a market capitalization of $29.86 million, a P/E ratio of -9.13 and a beta of 0.54. ProMIS Neurosciences has a fifty-two week low of $0.87 and a fifty-two week high of $3.10.

ProMIS Neurosciences Company Profile

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.