Portage Biotech Inc. (NASDAQ:PRTG) Short Interest Down 22.9% in October

Portage Biotech Inc. (NASDAQ:PRTG) saw a large decrease in short interest during the month of 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. Currently, 3.4% of the company’s shares are sold short. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is currently 0.0 days.

Portage Biotech Stock Performance

Portage Biotech stock traded up $0.14 during mid-day trading on Friday, hitting $4.09. The company’s stock had a trading volume of 23,699 shares, compared to its average volume of 56,497. The company has a 50 day moving average of $5.79 and a 200-day moving average of $4.89. The stock has a market cap of $4.29 million, a PE ratio of -0.09 and a beta of 1.59. Portage Biotech has a one year low of $2.10 and a one year high of $40.80.

Portage Biotech (NASDAQ:PRTG) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($24.20) earnings per share (EPS) for the quarter. On average, equities research analysts forecast that Portage Biotech will post -13 EPS for the current fiscal year.

Hedge Funds Weigh In On Portage Biotech

An institutional investor recently bought a new position in Portage Biotech stock. Sanctuary Advisors LLC purchased a new position in shares of Portage Biotech Inc. (NASDAQ:PRTG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 297,728 shares of the company’s stock, valued at approximately $63,000. Sanctuary Advisors LLC owned approximately 28.36% of Portage Biotech at the end of the most recent quarter. 13.36% of the stock is currently owned by hedge funds and other institutional investors.

Portage Biotech Company Profile

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.