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

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

Portage Biotech Stock Performance

PRTG stock traded down $0.08 during mid-day trading on Tuesday, reaching $4.06. The company had a trading volume of 5,652 shares, compared to its average volume of 640,957. Portage Biotech has a fifty-two week low of $2.10 and a fifty-two week high of $23.01. The company has a market capitalization of $4.26 million, a price-to-earnings ratio of -0.10 and a beta of 1.31. The firm has a fifty day simple moving average of $4.61 and a 200 day simple moving average of $4.96.

Institutional Investors Weigh In On Portage Biotech

A hedge fund recently bought a new stake in Portage Biotech stock. Virtu Financial LLC purchased a new position in shares of Portage Biotech Inc. (NASDAQ:PRTG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,919 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned 1.04% of Portage Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 13.36% of the company’s stock.

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.