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

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

Hedge Funds Weigh In On ProMIS Neurosciences

Large investors have recently bought and sold shares of the stock. Ally Bridge Group NY LLC increased its stake in ProMIS Neurosciences by 50.3% during the 3rd 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 during the period. Sphera Funds Management LTD. increased its stake in ProMIS Neurosciences by 6.3% during the 3rd quarter. Sphera Funds Management LTD. now owns 1,929,297 shares of the company’s stock valued at $2,412,000 after buying an additional 115,084 shares during the period. Finally, Great Point Partners LLC acquired a new position in shares of ProMIS Neurosciences in the 3rd quarter worth approximately $3,488,000. Institutional investors and hedge funds own 50.13% of the company’s stock.

ProMIS Neurosciences Stock Up 2.2 %

Shares of NASDAQ:PMN opened at $0.91 on Friday. The company has a market cap of $29.73 million, a PE ratio of -9.10 and a beta of 0.54. The company’s 50-day moving average price is $0.94 and its 200 day moving average price is $1.15. ProMIS Neurosciences has a fifty-two week low of $0.87 and a fifty-two week high of $2.61.

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.