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

Portage Biotech Inc. (NASDAQ:PRTG) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 14,500 shares, a decline of 22.9% from the October 15th total of 18,800 shares. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 3.4% of the company’s stock are short sold.

Institutional Investors Weigh In On Portage Biotech

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

Portage Biotech Price Performance

NASDAQ PRTG traded up $0.14 during mid-day trading on Friday, reaching $4.09. The stock had a trading volume of 23,699 shares, compared to its average volume of 56,497. The company has a fifty day moving average price of $5.79 and a 200 day moving average price of $4.89. Portage Biotech has a 1 year low of $2.10 and a 1 year high of $40.80. The stock has a market cap of $4.29 million, a PE ratio of -0.09 and a beta of 1.59.

Portage Biotech (NASDAQ:PRTG) last issued its earnings results on Thursday, August 15th. The company reported ($24.20) earnings per share for the quarter. As a group, equities research analysts expect that Portage Biotech will post -13 earnings per share for the current year.

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.