Promis Neurosciences (NASDAQ:PMN - Get Free Report) Director Eugene Williams purchased 26,500 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average cost of $3.43 per share, for a total transaction of $90,895.00. Following the completion of the acquisition, the director directly owned 40,213 shares in the company, valued at $137,930.59. The trade was a 193.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Eugene Williams also recently made the following trade(s):
- On Friday, October 30th, Eugene Williams purchased 1,316 shares of Promis Neurosciences stock. The shares were bought at an average price of $3.99 per share, with a total value of $5,250.84.
Promis Neurosciences Stock Up 14.0%
NASDAQ PMN traded up $0.51 during trading hours on Friday, reaching $4.16. 375,084 shares of the company were exchanged, compared to its average volume of 286,712. Promis Neurosciences has a 1 year low of $2.78 and a 1 year high of $27.40. The business's 50 day simple moving average is $10.14 and its 200-day simple moving average is $12.75. The stock has a market capitalization of $37.32 million, a P/E ratio of -0.49 and a beta of -0.19.
Promis Neurosciences (NASDAQ:PMN - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($1.28) earnings per share for the quarter, beating analysts' consensus estimates of ($1.38) by $0.10. As a group, sell-side analysts anticipate that Promis Neurosciences will post -5.07 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Chardan Capital set a $20.00 target price on Promis Neurosciences and gave the stock a "buy" rating in a research report on Monday, July 27th. Wall Street Zen raised Promis Neurosciences from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 18th. Guggenheim reissued a "buy" rating and issued a $69.00 price objective (up from $35.00) on shares of Promis Neurosciences in a report on Tuesday, July 28th. HC Wainwright restated a "buy" rating on shares of Promis Neurosciences in a research note on Monday, October 12th. Finally, Roth Capital dropped their price objective on shares of Promis Neurosciences to $15.00 and set a "buy" rating on the stock in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Promis Neurosciences presently has a consensus rating of "Moderate Buy" and an average target price of $30.50.
Check Out Our Latest Stock Analysis on PMN
Institutional Trading of Promis Neurosciences
A number of hedge funds and other institutional investors have recently made changes to their positions in PMN. Seven Fleet Capital Management LP purchased a new stake in Promis Neurosciences during the 1st quarter worth about $135,000. ADAR1 Capital Management LLC purchased a new stake in shares of Promis Neurosciences in the first quarter worth about $1,211,000. Ally Bridge Group NY LLC lifted its holdings in shares of Promis Neurosciences by 66.1% in the first quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company's stock worth $5,261,000 after buying an additional 164,880 shares in the last quarter. Yu Fan bought a new position in shares of Promis Neurosciences in the first quarter valued at approximately $4,188,000. Finally, Janus Henderson Group PLC bought a new position in shares of Promis Neurosciences in the first quarter valued at approximately $16,418,000. 50.13% of the stock is currently owned by institutional investors.
About Promis Neurosciences
(
Get Free Report)
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.
Further Reading
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