Short Interest in Portage Biotech Inc. (NASDAQ:PRTG) Decreases By 26.7%

Portage Biotech Inc. (NASDAQ:PRTG) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 37,400 shares, adeclineof26.7% from the July 15th total of 51,000 shares. Based on an average trading volume of 99,800 shares, the short-interest ratio is currently 0.4 days. Currently,4.4% of the company’s stock are sold short. Currently,4.4% of the company’s stock are sold short. Based on an average trading volume of 99,800 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Portage Biotech

An institutional investor recently bought a new position in Portage Biotech stock. Citadel Advisors LLC bought a new stake in Portage Biotech Inc. (NASDAQ:PRTG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,431 shares of the company’s stock, valued at approximately $80,000. Citadel Advisors LLC owned about 1.47% of Portage Biotech as of its most recent SEC filing. 13.36% of the stock is owned by hedge funds and other institutional investors.

Portage Biotech Stock Performance

Shares of PRTG stock opened at $8.86 on Friday. Portage Biotech has a fifty-two week low of $2.42 and a fifty-two week high of $23.01. The firm has a market capitalization of $9.30 million, a price-to-earnings ratio of -0.21 and a beta of 0.24. The stock’s 50-day simple moving average is $6.56 and its 200-day simple moving average is $6.58.

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.