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

Portage Biotech Inc. (NASDAQ:PRTG) saw a large decline in short interest in 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. Approximately 3.4% of the shares of the company are sold short. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Portage Biotech

A hedge fund recently bought a new stake in Portage Biotech stock. Sanctuary Advisors LLC bought a new stake in shares of Portage Biotech Inc. (NASDAQ:PRTG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 297,728 shares of the company’s stock, valued at approximately $63,000. Sanctuary Advisors LLC owned about 28.36% of Portage Biotech as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 13.36% of the company’s stock.

Portage Biotech Stock Up 3.5 %

NASDAQ PRTG traded up $0.14 during trading hours on Friday, reaching $4.09. The company’s stock had a trading volume of 23,699 shares, compared to its average volume of 56,497. The firm’s 50-day moving average price is $5.79 and its 200-day moving average price is $4.89. Portage Biotech has a 1 year low of $2.10 and a 1 year high of $40.80. The company has a market capitalization of $4.29 million, a price-to-earnings ratio of -0.09 and a beta of 1.59.

Portage Biotech (NASDAQ:PRTG) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($24.20) EPS for the quarter. Equities research analysts anticipate that Portage Biotech will post -13 EPS for the current fiscal year.

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.