Portage Biotech Inc. (NASDAQ:PRTG) Sees Large Decline in Short Interest

Portage Biotech Inc. (NASDAQ:PRTG) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 13,000 shares, a drop of 43.0% from the January 31st total of 22,800 shares. Approximately 8.0% of the shares of the stock are sold short. Based on an average daily volume of 652,100 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of Portage Biotech

A hedge fund recently bought a new stake in Portage Biotech stock. Virtu Financial LLC acquired a new stake in shares of Portage Biotech Inc. (NASDAQ:PRTG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,919 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned about 1.04% of Portage Biotech as of its most recent SEC filing. Institutional investors own 13.36% of the company’s stock.

Portage Biotech Stock Down 8.6 %

NASDAQ PRTG traded down $0.39 during trading hours on Monday, reaching $4.12. The company’s stock had a trading volume of 7,209 shares, compared to its average volume of 643,468. The company has a market capitalization of $4.32 million, a price-to-earnings ratio of -0.10 and a beta of 1.31. Portage Biotech has a 1 year low of $2.10 and a 1 year high of $23.01. The firm’s 50-day moving average price is $4.61 and its 200-day moving average price is $4.96.

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.