Portage Biotech (NASDAQ:ALP) Insider Fiorenzo Villani Acquires 5,150 Shares of Stock

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani purchased 5,150 shares of Portage Biotech stock in a transaction that occurred on Wednesday, October 7th. The stock was acquired at an average cost of $3.80 per share, with a total value of $19,570.00. Following the acquisition, the insider directly owned 54,036 shares in the company, valued at $205,336.80. This trade represents a 10.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Fiorenzo Villani also recently made the following trade(s):

• On Tuesday, September 22nd, Fiorenzo Villani purchased 10,000 shares of Portage Biotech stock. The shares were acquired at an average price of $4.40 per share, for a total transaction of $44,000.00.
• On Wednesday, September 16th, Fiorenzo Villani purchased 4,265 shares of Portage Biotech stock. The shares were acquired at an average price of $4.05 per share, for a total transaction of $17,273.25.
• On Tuesday, September 15th, Fiorenzo Villani acquired 7,900 shares of Portage Biotech stock. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $32,785.00.
• On Tuesday, September 15th, Fiorenzo Villani acquired 10,382 shares of Portage Biotech stock. The stock was acquired at an average cost of $4.07 per share, for a total transaction of $42,254.74.
• On Monday, September 14th, Fiorenzo Villani acquired 2,000 shares of Portage Biotech stock. The stock was acquired at an average price of $4.16 per share, with a total value of $8,320.00.
• On Wednesday, September 9th, Fiorenzo Villani bought 7,000 shares of Portage Biotech stock. The shares were acquired at an average cost of $5.07 per share, with a total value of $35,490.00.

Portage Biotech Price Performance

Shares of ALP stock opened at $4.02 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $6.26 and a 200-day simple moving average of $12.59. Portage Biotech Inc. has a 1-year low of $3.20 and a 1-year high of $370.50.

Portage Biotech (NASDAQ:ALP) last announced its earnings results on Thursday, July 16th. The company reported $23.75 earnings per share (EPS) for the quarter. The business had revenue of $0.05 million for the quarter. As a group, equities research analysts anticipate that Portage Biotech Inc. will post -14.00 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on ALP. HC Wainwright started coverage on shares of Portage Biotech in a report on Monday, August 17th. They set a “neutral” rating and a $12.50 price objective on the stock. Zacks Research raised shares of Portage Biotech to a “hold” rating in a research note on Tuesday, August 18th. Wall Street Zen raised shares of Portage Biotech to a “hold” rating in a research note on Saturday, September 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Portage Biotech in a research report on Friday, July 24th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $12.50.

About Portage Biotech

Portage Biotech Inc is a clinical-stage biotechnology company focused on developing immuno-oncology therapies for patients with solid tumors. The company’s approach is designed to stimulate the immune system and directly target tumor cells, with the goal of addressing cancers that are resistant or unresponsive to existing treatments.

Portage’s lead investigational product is INT230-6, an intratumoral therapy based on a proprietary formulation designed to deliver anticancer agents directly into tumors.