Short Interest in Portage Biotech Inc. (NASDAQ:PRTG) Declines By 22.9%

Portage Biotech Inc. (NASDAQ:PRTG) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 14,500 shares, a decrease of 22.9% from the October 15th total of 18,800 shares. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 3.4% of the shares of the stock are sold short.

Portage Biotech Stock Performance

NASDAQ:PRTG traded up $0.14 during trading hours on Friday, reaching $4.09. The company’s stock had a trading volume of 23,699 shares, compared to its average volume of 56,497. The firm has a 50-day simple moving average of $5.79 and a 200-day simple moving average of $4.89. Portage Biotech has a 1 year low of $2.10 and a 1 year high of $40.80. The firm has a market capitalization of $4.29 million, a price-to-earnings ratio of -0.09 and a beta of 1.59.

Portage Biotech (NASDAQ:PRTG) last released its quarterly earnings data on Thursday, August 15th. The company reported ($24.20) earnings per share for the quarter. Equities analysts anticipate that Portage Biotech will post -13 earnings per share for the current fiscal year.

Institutional Trading of Portage Biotech

A hedge fund recently bought a new stake in Portage Biotech stock. Sanctuary Advisors LLC bought a new stake in Portage Biotech Inc. (NASDAQ:PRTG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 297,728 shares of the company’s stock, valued at approximately $63,000. Sanctuary Advisors LLC owned 28.36% of Portage Biotech as of its most recent SEC filing. 13.36% of the stock is owned by institutional investors.

About Portage Biotech

Portage Biotech Inc, a clinical stage immune-oncology company, engages in the research and develops pharmaceutical and biotechnology products. Its product pipeline includes PORT-2 for treatment of refractory NSCLC, melanoma, and refractory melanoma that is in phase I and phase II clinical trials; PORT-3, for treatment of solid tumors, which is in phase I clinical trials; PORT-6, an A2AR inhibitor to treat A2A & A2B high solid tumors that is in phase Ia clinical trials; PORT-7, an A2AR inhibitor to treat A2A & A2B high solid tumors that is in phase Ib clinical trials; PORT-1, an intratumoral amphiphilic solutions for treatment of advanced soft tissue sarcoma, which is in phase 3 clinical trials; PORT-4, a nanolipogel co-formulations to treat of solid tumors that is in preclinical trials; and PORT-5, a VLP-STING to treat of solid tumors that is in preclinical trials.