Ally Bridge Group NY LLC Acquires 533,023 Shares of ProMIS Neurosciences, Inc. (NASDAQ:PMN)

Ally Bridge Group NY LLC boosted its holdings in shares of ProMIS Neurosciences, Inc. (NASDAQ:PMN) by 50.3% in the third quarter, HoldingsChannel reports. The firm owned 1,592,605 shares of the company’s stock after acquiring an additional 533,023 shares during the period. ProMIS Neurosciences makes up 1.1% of Ally Bridge Group NY LLC’s portfolio, making the stock its 29th biggest position. Ally Bridge Group NY LLC owned approximately 0.05% of ProMIS Neurosciences worth $1,991,000 at the end of the most recent quarter.

Separately, Great Point Partners LLC bought a new stake in shares of ProMIS Neurosciences during the third quarter worth $3,488,000. Hedge funds and other institutional investors own 50.13% of the company’s stock.

ProMIS Neurosciences Stock Performance

Shares of NASDAQ:PMN opened at $0.94 on Thursday. The business has a fifty day moving average of $1.07 and a 200-day moving average of $1.41. The firm has a market cap of $30.73 million, a PE ratio of -9.40 and a beta of 0.60. ProMIS Neurosciences, Inc. has a twelve month low of $0.88 and a twelve month high of $3.10.

Insiders Place Their Bets

In related news, Director Madge K. Shafmaster bought 60,000 shares of ProMIS Neurosciences stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $1.25 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the director now owns 68,333 shares of the company’s stock, valued at approximately $85,416.25. This trade represents a 720.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

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.