Portage Biotech (NASDAQ:PRTG) Stock Price Down 7.2% – Should You Sell?

Portage Biotech Inc. (NASDAQ:PRTG) shares dropped 7.2% during trading on Friday . The stock traded as low as $4.30 and last traded at $4.37. Approximately 27,346 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 63,041 shares. The stock had previously closed at $4.71.

Portage Biotech Trading Down 7.2 %

The stock’s 50 day moving average is $4.72 and its two-hundred day moving average is $4.71. The stock has a market capitalization of $4.58 million, a price-to-earnings ratio of -0.10 and a beta of 1.33.

Institutional Trading of Portage Biotech

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

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.