ProMIS Neurosciences (NASDAQ:PMN) Earns Buy Rating from Guggenheim

ProMIS Neurosciences (NASDAQ:PMN)‘s stock had its “buy” rating restated by equities research analysts at Guggenheim in a report released on Wednesday,Benzinga reports.

ProMIS Neurosciences Trading Down 3.4 %

PMN traded down $0.03 during trading on Wednesday, hitting $0.73. The stock had a trading volume of 21,163 shares, compared to its average volume of 48,908. ProMIS Neurosciences has a 12 month low of $0.65 and a 12 month high of $2.61. The company has a 50 day simple moving average of $0.93 and a 200-day simple moving average of $1.05. The firm has a market cap of $23.70 million, a PE ratio of -7.19 and a beta of 0.56.

Institutional Investors Weigh In On ProMIS Neurosciences

A number of institutional investors have recently made changes to their positions in PMN. Great Point Partners LLC acquired a new stake in ProMIS Neurosciences in the 3rd quarter valued at $3,488,000. Sphera Funds Management LTD. increased 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 worth $2,412,000 after purchasing an additional 115,084 shares during the period. Ally Bridge Group NY LLC increased its position in 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 acquiring an additional 533,023 shares during the period. Finally, Allostery Investments LP bought a new stake in ProMIS Neurosciences during the fourth quarter worth about $185,000. 50.13% of the stock is owned by institutional investors and hedge funds.

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.