Portage Biotech Inc. (NASDAQ:ALP) Short Interest Update

Portage Biotech Inc. (NASDAQ:ALP) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 125,301 shares, a decline of 94.7% from the August 31st total of 2,354,529 shares. Based on an average daily volume of 200,915 shares, the short-interest ratio is presently 0.6 days. Currently, 8.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

ALP has been the subject of a number of analyst reports. HC Wainwright began coverage on shares of Portage Biotech in a research report on Monday, August 17th. They set a “neutral” rating and a $12.50 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Portage Biotech in a report on Friday, July 24th. Zacks Research raised Portage Biotech to a “hold” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Portage Biotech to a “hold” rating in a report on Saturday, September 12th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $12.50.

Portage Biotech Stock Up 23.6%

Shares of ALP stock traded up $1.07 during trading hours on Thursday, reaching $5.61. 157,694 shares of the company’s stock were exchanged, compared to its average volume of 125,423. Portage Biotech has a 1 year low of $3.20 and a 1 year high of $690.00. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.70 million, a PE ratio of -0.01 and a beta of 0.54. The stock’s fifty day moving average price is $8.60 and its two-hundred day moving average price is $13.86.

Portage Biotech (NASDAQ:ALP) last announced its quarterly earnings data on Thursday, July 16th. The company reported $23.75 EPS for the quarter. The company had revenue of $0.05 million during the quarter. Research analysts predict that Portage Biotech will post -14 EPS for the current year.

Insider Transactions at Portage Biotech

In other news, CEO Brittany Kaiser purchased 9,350 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was acquired at an average cost of $5.35 per share, with a total value of $50,022.50. Following the completion of the transaction, the chief executive officer owned 16,766 shares in the company, valued at $89,698.10. This represents a 126.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Fiorenzo Villani purchased 10,382 shares of the stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average price of $4.07 per share, for a total transaction of $42,254.74. Following the completion of the acquisition, the insider directly owned 34,601 shares in the company, valued at approximately $140,826.07. This represents a 42.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 51,897 shares of company stock valued at $235,245 over the last quarter.

About Portage Biotech

Portage Biotech Inc is a clinical-stage biotechnology company focused on developing immuno-oncology treatments designed to stimulate the immune system to target and eliminate cancer cells. Its research has centered on therapies involving invariant natural killer T (iNKT) cells, a specialized immune-cell population that may help generate targeted antitumor responses.

The company’s pipeline has included investigational therapies intended for use in solid tumors, including approaches that combine immune-cell activation with mechanisms designed to improve the tumor microenvironment and enhance treatment response.