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

Posted by Thomas Dobrow on Jan 18th, 2025

ProMIS Neurosciences, Inc. (NASDAQ:PMN – Get Free Report) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 225,700 shares, a growth of 37.4% from the December 15th total of 164,300 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 68,800 shares, the short-interest ratio is currently 3.3 days.

Institutional Trading of ProMIS Neurosciences

A number of hedge funds have recently added to or reduced their stakes in PMN. Great Point Partners LLC acquired a new stake in ProMIS Neurosciences in the third quarter valued at approximately $3,488,000. Ally Bridge Group NY LLC boosted its position in ProMIS Neurosciences by 50.3% in the third quarter. Ally Bridge Group NY LLC now owns 1,592,605 shares of the company’s stock valued at $1,991,000 after buying an additional 533,023 shares in the last quarter. Finally, Sphera Funds Management LTD. raised its stake 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 valued at $2,412,000 after acquiring an additional 115,084 shares during the last quarter. Institutional investors and hedge funds own 50.13% of the company’s stock.

ProMIS Neurosciences Stock Performance

Shares of NASDAQ PMN traded down $0.03 during trading hours on Friday, hitting $0.88. 41,560 shares of the stock were exchanged, compared to its average volume of 56,928. ProMIS Neurosciences has a 1-year low of $0.87 and a 1-year high of $2.61. The company has a market cap of $28.83 million, a PE ratio of -8.82 and a beta of 0.54. The company’s fifty day simple moving average is $0.96 and its two-hundred day simple moving average is $1.22.

ProMIS Neurosciences Company Profile

(Get Free Report)

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.