Portage Biotech Inc. (NASDAQ:PRTG) Sees Large Decline in Short Interest

Portage Biotech Inc. (NASDAQ:PRTG) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 15,400 shares, a drop of 84.6% from the February 29th total of 100,200 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 62,600 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lowered shares of Portage Biotech from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th.

Hedge Funds Weigh In On Portage Biotech

Large investors have recently made changes to their positions in the company. PEAK6 Investments LLC bought a new stake in Portage Biotech during the 4th quarter valued at about $93,000. Armistice Capital LLC bought a new stake in Portage Biotech during the 3rd quarter valued at about $4,113,000. Citadel Advisors LLC bought a new stake in Portage Biotech during the 2nd quarter valued at about $64,000. Bison Wealth LLC bought a new stake in Portage Biotech during the 2nd quarter valued at about $746,000. Finally, Renaissance Technologies LLC bought a new stake in Portage Biotech during the 2nd quarter valued at about $37,000. 13.36% of the stock is owned by hedge funds and other institutional investors.

Portage Biotech Stock Performance

Shares of PRTG traded up $0.01 on Wednesday, reaching $0.54. The company’s stock had a trading volume of 66,420 shares, compared to its average volume of 65,111. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.78 and a quick ratio of 2.78. The stock has a market capitalization of $9.61 million, a P/E ratio of -0.06 and a beta of 0.96. The stock’s 50 day simple moving average is $0.65 and its two-hundred day simple moving average is $1.36. Portage Biotech has a 12-month low of $0.34 and a 12-month high of $4.40.

Portage Biotech (NASDAQ:PRTG) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. Research analysts forecast that Portage Biotech will post -1.03 earnings per share 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.