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

Portage Biotech Inc. (NASDAQ:PRTG) saw a significant 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. Currently, 3.4% of the shares of the stock are sold short. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Portage Biotech stock. Sanctuary Advisors LLC bought a new position in shares of Portage Biotech Inc. (NASDAQ:PRTG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 297,728 shares of the company’s stock, valued at approximately $63,000. Sanctuary Advisors LLC owned 28.36% of Portage Biotech at the end of the most recent quarter. 13.36% of the stock is currently owned by institutional investors.

Portage Biotech Trading Up 3.5 %

Portage Biotech stock traded up $0.14 during midday trading on Friday, reaching $4.09. 23,699 shares of the company were exchanged, compared to its average volume of 56,497. The firm’s 50-day simple moving average is $5.79 and its 200-day simple moving average is $4.89. Portage Biotech has a 1 year low of $2.10 and a 1 year high of $40.80.

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