Key Points
- Insider purchase: Director Patrick Kirwin bought 4,000 shares on April 22 at an average price of $11.33 (total $45,320), bringing his holding to 4,653 shares (reported as a 612.56% increase) valued at about $52,718.
- Current trading and valuation: PMN opened at $10.88 with a 50‑day MA of $16.32 and 200‑day MA of $12.11, a one‑year range of $6.27–$39.75, a market cap of $23.39 million and a negative P/E of -0.57.
- Mixed analyst and institutional backdrop: Analysts are split (three Buy, one Sell) with an average target of $42.67 and recent target/ratings changes, while institutional investors own 50.13% of the stock and several hedge funds notably increased their positions.
Promis Neurosciences (NASDAQ:PMN - Get Free Report) Director Patrick Kirwin acquired 4,000 shares of the business's stock in a transaction that occurred on Wednesday, April 22nd. The shares were purchased at an average price of $11.33 per share, with a total value of $45,320.00. Following the completion of the acquisition, the director owned 4,653 shares of the company's stock, valued at $52,718.49. This represents a 612.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Promis Neurosciences Price Performance
Shares of NASDAQ PMN opened at $10.88 on Friday. The business's 50-day moving average price is $16.32 and its two-hundred day moving average price is $12.11. Promis Neurosciences has a one year low of $6.27 and a one year high of $39.75. The company has a market capitalization of $23.39 million, a P/E ratio of -0.57 and a beta of -0.17.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PMN. Wall Street Zen lowered Promis Neurosciences to a "strong sell" rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Promis Neurosciences in a research report on Thursday, January 22nd. Finally, Guggenheim reduced their target price on shares of Promis Neurosciences from $125.00 to $35.00 and set a "buy" rating for the company in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Promis Neurosciences has an average rating of "Moderate Buy" and an average target price of $42.67.
Read Our Latest Analysis on PMN
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in PMN. Citadel Advisors LLC raised its stake in shares of Promis Neurosciences by 168.1% in the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company's stock valued at $72,000 after acquiring an additional 106,650 shares in the last quarter. Armistice Capital LLC lifted its holdings in Promis Neurosciences by 39.1% in the 3rd quarter. Armistice Capital LLC now owns 2,974,518 shares of the company's stock worth $1,264,000 after purchasing an additional 836,622 shares during the last quarter. Finally, Ally Bridge Group NY LLC boosted its position in Promis Neurosciences by 367.1% during the third quarter. Ally Bridge Group NY LLC now owns 6,233,497 shares of the company's stock worth $2,649,000 after purchasing an additional 4,899,069 shares during the period. Institutional investors and hedge funds own 50.13% of the company's stock.
Promis Neurosciences Company Profile
(
Get Free Report)
Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company's research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer's disease and multiple sclerosis.
Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.
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