Ally Bridge Group NY LLC raised its stake in Promis Neurosciences (NASDAQ:PMN - Free Report) by 66.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 414,219 shares of the company's stock after purchasing an additional 164,880 shares during the quarter. Promis Neurosciences comprises approximately 4.2% of Ally Bridge Group NY LLC's holdings, making the stock its 8th biggest holding. Ally Bridge Group NY LLC owned approximately 4.62% of Promis Neurosciences worth $5,261,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Yu Fan purchased a new position in shares of Promis Neurosciences in the 1st quarter worth about $4,188,000. ADAR1 Capital Management LLC acquired a new position in shares of Promis Neurosciences in the 1st quarter valued at about $1,211,000. Armistice Capital LLC lifted its stake in shares of Promis Neurosciences by 39.1% in the 3rd quarter. Armistice Capital LLC now owns 2,974,518 shares of the company's stock valued at $1,264,000 after purchasing an additional 836,622 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of Promis Neurosciences by 168.1% during the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company's stock worth $72,000 after purchasing an additional 106,650 shares during the period. 50.13% of the stock is owned by hedge funds and other institutional investors.
Promis Neurosciences Stock Up 23.9%
NASDAQ PMN opened at $14.52 on Wednesday. The stock has a market cap of $130.22 million, a PE ratio of -1.00 and a beta of -0.23. Promis Neurosciences has a fifty-two week low of $6.27 and a fifty-two week high of $27.40. The business has a 50 day moving average price of $11.74 and a two-hundred day moving average price of $13.10.
Promis Neurosciences (NASDAQ:PMN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.20). Sell-side analysts anticipate that Promis Neurosciences will post -5.13 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on PMN shares. Roth Capital started coverage on shares of Promis Neurosciences in a research report on Tuesday, July 7th. They set a "buy" rating and a $19.00 target price for the company. Brookline Capital Markets raised shares of Promis Neurosciences to a "strong-buy" rating in a research report on Wednesday, May 20th. Weiss Ratings downgraded shares of Promis Neurosciences from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th. Chardan Capital set a $20.00 price objective on shares of Promis Neurosciences and gave the stock a "buy" rating in a research report on Monday. Finally, Cantor Fitzgerald initiated coverage on shares of Promis Neurosciences in a research note on Tuesday, June 30th. They issued an "overweight" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.
Check Out Our Latest Report on Promis Neurosciences
About Promis Neurosciences
(
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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