Promis Neurosciences (NASDAQ:PMN – Get Free Report) insider Neil Cashman acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average price of $3.86 per share, with a total value of $38,600.00. Following the acquisition, the insider directly owned 14,532 shares in the company, valued at $56,093.52. This represents a 220.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Promis Neurosciences Price Performance
Promis Neurosciences stock opened at $3.41 on Wednesday. The firm has a 50-day moving average of $10.79 and a two-hundred day moving average of $12.81. Promis Neurosciences has a 1 year low of $2.78 and a 1 year high of $27.40.
Promis Neurosciences (NASDAQ:PMN – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($1.28) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.10. Equities analysts forecast that Promis Neurosciences will post -5.07 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
PMN has been the subject of a number of research analyst reports. Wall Street Zen raised Promis Neurosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 18th. Roth Capital dropped their price target on Promis Neurosciences to $15.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings raised Promis Neurosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Guggenheim restated a “buy” rating and set a $69.00 price target (up from $35.00) on shares of Promis Neurosciences in a research note on Tuesday, July 28th. Finally, HC Wainwright restated a “buy” rating on shares of Promis Neurosciences in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.50.
View Our Latest Stock Analysis on PMN
Hedge Funds Weigh In On Promis Neurosciences
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ally Bridge Group NY LLC increased its holdings in Promis Neurosciences by 66.1% during the first quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company’s stock valued at $5,261,000 after buying an additional 164,880 shares during the period. Yu Fan purchased a new stake in Promis Neurosciences during the first quarter worth $4,188,000. Janus Henderson Group PLC purchased a new stake in Promis Neurosciences during the first quarter worth $16,418,000. ADAR1 Capital Management LLC bought a new stake in Promis Neurosciences during the 1st quarter valued at $1,211,000. Finally, Seven Fleet Capital Management LP bought a new stake in Promis Neurosciences during the 1st quarter valued at $135,000. 50.13% of the stock is currently owned by institutional investors.
About Promis Neurosciences
ProMIS Neurosciences Inc (NASDAQ: PMN) is a clinical-stage biotechnology company developing precision medicines for neurodegenerative diseases. The company’s research focuses on misfolded proteins, which can form toxic structures associated with conditions such as Alzheimer’s disease, amyotrophic lateral sclerosis and other neurological disorders.
ProMIS uses its proprietary target-discovery platform to identify disease-specific toxic protein conformations and develop antibodies intended to selectively bind and neutralize them while avoiding healthy forms of the same proteins.
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