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

Portage Biotech Inc. (NASDAQ:PRTG) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 13,800 shares, a decrease of 20.7% from the February 28th total of 17,400 shares. Based on an average daily trading volume, of 86,500 shares, the short-interest ratio is presently 0.2 days. Currently, 8.4% of the shares of the company are short sold.

Hedge Funds Weigh In On Portage Biotech

A hedge fund recently bought a new stake in Portage Biotech stock. Citadel Advisors LLC bought a new position in shares of Portage Biotech Inc. (NASDAQ:PRTG) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,431 shares of the company’s stock, valued at approximately $80,000. Citadel Advisors LLC owned 1.47% of Portage Biotech as of its most recent filing with the SEC. 13.36% of the stock is owned by hedge funds and other institutional investors.

Portage Biotech Trading Down 15.5 %

Shares of PRTG traded down $1.28 during mid-day trading on Wednesday, reaching $6.98. The company’s stock had a trading volume of 161,843 shares, compared to its average volume of 771,863. Portage Biotech has a 1-year low of $2.10 and a 1-year high of $23.01. The business has a 50-day simple moving average of $4.70 and a two-hundred day simple moving average of $5.12. The stock has a market cap of $7.32 million, a P/E ratio of -0.17 and a beta of 1.29.

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.