Promis Neurosciences (NASDAQ:PMN) Insider Johanne Kaplan Purchases 1,629 Shares of Stock

Promis Neurosciences (NASDAQ:PMN) insider Johanne Kaplan purchased 1,629 shares of Promis Neurosciences stock in a transaction on Thursday, February 19th. The shares were acquired at an average cost of $15.35 per share, with a total value of $25,005.15. Following the completion of the transaction, the insider directly owned 3,941 shares in the company, valued at $60,494.35. The trade was a 70.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Promis Neurosciences Price Performance

PMN stock opened at $15.79 on Tuesday. The company has a market capitalization of $33.95 million, a P/E ratio of -0.83 and a beta of -0.08. Promis Neurosciences has a 12 month low of $6.27 and a 12 month high of $39.75. The firm’s fifty day simple moving average is $10.64 and its 200-day simple moving average is $10.90.

Hedge Funds Weigh In On Promis Neurosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC raised its holdings in Promis Neurosciences by 168.1% in 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. Armistice Capital LLC increased its position in shares of Promis Neurosciences by 39.1% in the third quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock valued at $1,264,000 after buying an additional 836,622 shares in the last quarter. Finally, Ally Bridge Group NY LLC raised its stake in shares of Promis Neurosciences by 367.1% during the 3rd quarter. Ally Bridge Group NY LLC now owns 6,233,497 shares of the company’s stock worth $2,649,000 after buying an additional 4,899,069 shares during the period. Hedge funds and other institutional investors own 50.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PMN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Promis Neurosciences in a research note on Thursday, January 22nd. Guggenheim dropped their target price on Promis Neurosciences from $125.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Wall Street Zen cut Promis Neurosciences to a “strong sell” rating in a research report on Saturday, February 14th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price objective (up previously from $4.00) on shares of Promis Neurosciences in a research report on Monday, December 1st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

About Promis Neurosciences

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.