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

Portage Biotech Inc. (NASDAQ:PRTG) was the recipient of a large decline in short interest in February. As of February 15th, there was short interest totalling 13,000 shares, a decline of 43.0% from the January 31st total of 22,800 shares. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily volume of 652,100 shares, the short-interest ratio is presently 0.0 days.

Portage Biotech Stock Performance

Shares of Portage Biotech stock traded up $0.17 on Friday, hitting $4.51. The company’s stock had a trading volume of 16,059 shares, compared to its average volume of 646,052. Portage Biotech has a 1 year low of $2.10 and a 1 year high of $23.01. The firm has a fifty day moving average price of $4.64 and a 200-day moving average price of $4.92. The company has a market capitalization of $4.73 million, a price-to-earnings ratio of -0.11 and a beta of 1.31.

Hedge Funds Weigh In On Portage Biotech

A hedge fund recently bought a new stake in Portage Biotech stock. Citadel Advisors LLC acquired a new position in shares of Portage Biotech Inc. (NASDAQ:PRTG) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 15,431 shares of the company’s stock, valued at approximately $80,000. Citadel Advisors LLC owned approximately 1.47% of Portage Biotech at the end of the most recent quarter. Institutional investors own 13.36% of the company’s stock.

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.