Promis Neurosciences (NASDAQ:PMN) Director Eugene Williams Purchases 26,500 Shares of Company Stock

Promis Neurosciences (NASDAQ:PMN) Director Eugene Williams acquired 26,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average price of $3.43 per share, with a total value of $90,895.00. Following the completion of the transaction, the director owned 40,213 shares in the company, valued at $137,930.59. This represents a 193.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Eugene Williams also recently made the following trade(s):

• On Friday, October 30th, Eugene Williams bought 1,316 shares of Promis Neurosciences stock. The stock was bought at an average price of $3.99 per share, for a total transaction of $5,250.84.

Promis Neurosciences Stock Up 14.0%

Shares of NASDAQ:PMN traded up $0.51 during trading on Friday, hitting $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 company has a market capitalization of $37.32 million, a P/E ratio of -0.49 and a beta of -0.19. The business’s 50 day moving average is $10.14 and its 200-day moving average is $12.75.

Promis Neurosciences (NASDAQ:PMN) last posted its earnings results on Thursday, August 13th. The company reported ($1.28) EPS for the quarter, beating the consensus estimate 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 Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Promis Neurosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Chardan Capital set a $20.00 target price on Promis Neurosciences and gave the stock a “buy” rating in a research note on Monday, July 27th. Roth Capital lowered their target price on Promis Neurosciences to $15.00 and set a “buy” rating for the company in a report on Monday, November 2nd. Wall Street Zen raised Promis Neurosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, HC Wainwright restated a “buy” rating on shares of Promis Neurosciences in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Promis Neurosciences presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Institutional Trading of Promis Neurosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new stake in shares of Promis Neurosciences in the first quarter worth approximately $16,418,000. Ally Bridge Group NY LLC grew 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 valued at $5,261,000 after acquiring 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. ADAR1 Capital Management LLC purchased a new stake in shares of Promis Neurosciences during the first quarter valued at approximately $1,211,000. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Promis Neurosciences during the first quarter valued at approximately $135,000. Institutional investors own 50.13% of the company’s stock.

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.