Promis Neurosciences (NASDAQ:PMN) Director Acquires $48,000.00 in Stock
by Amy Steele · The Cerbat GemPromis Neurosciences (NASDAQ:PMN – Get Free Report) Director Eugene Williams acquired 2,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were bought at an average price of $24.00 per share, for a total transaction of $48,000.00. Following the purchase, the director owned 10,397 shares in the company, valued at approximately $249,528. This trade represents a 23.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
Eugene Williams also recently made the following trade(s):
- On Monday, March 2nd, Eugene Williams acquired 1,000 shares of Promis Neurosciences stock. The shares were purchased at an average price of $22.53 per share, with a total value of $22,530.00.
Promis Neurosciences Stock Down 2.2%
NASDAQ PMN traded down $0.55 during trading on Wednesday, hitting $24.05. 57,201 shares of the company’s stock were exchanged, compared to its average volume of 51,132. The stock’s 50 day moving average price is $12.52 and its two-hundred day moving average price is $11.23. Promis Neurosciences has a fifty-two week low of $6.27 and a fifty-two week high of $39.75.
Wall Street Analyst Weigh In
PMN has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Promis Neurosciences in a research note on Thursday, January 22nd. HC Wainwright restated a “buy” rating and set a $18.00 price objective (up from $4.00) on shares of Promis Neurosciences in a research note on Monday, December 1st. Guggenheim cut their price target on shares of Promis Neurosciences from $125.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Finally, Wall Street Zen downgraded shares of Promis Neurosciences to a “strong sell” rating in a research note on Saturday, February 14th. Three 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.67.
Read Our Latest Stock Report on PMN
Hedge Funds Weigh In On Promis Neurosciences
Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC increased its position 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 valued at $72,000 after purchasing an additional 106,650 shares during the last quarter. Armistice Capital LLC boosted 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 buying an additional 836,622 shares during the period. Finally, Ally Bridge Group NY LLC grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 50.13% of the company’s stock.
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.