Portage Biotech Inc. (NASDAQ:PRTG) Sees Significant Increase in Short Interest

Portage Biotech Inc. (NASDAQ:PRTG) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 17,600 shares, a growth of 87.2% from the September 15th total of 9,400 shares. Approximately 4.2% of the shares of the stock are sold short. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is currently 0.0 days.

Portage Biotech Stock Up 1.3 %

PRTG traded up $0.09 during trading on Friday, reaching $6.88. The company’s stock had a trading volume of 18,680 shares, compared to its average volume of 594,113. The firm has a fifty day simple moving average of $4.74 and a two-hundred day simple moving average of $5.37. Portage Biotech has a 1 year low of $2.10 and a 1 year high of $53.20. The company has a market cap of $7.22 million, a price-to-earnings ratio of -0.15 and a beta of 1.57.

Portage Biotech (NASDAQ:PRTG) last released its quarterly earnings results on Thursday, August 15th. The company reported ($24.20) EPS for the quarter. As a group, equities analysts forecast that Portage Biotech will post -13 EPS 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 2nd quarter, according to the company in its most recent 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 about 28.36% of Portage Biotech as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 13.36% of the company’s stock.

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.