Insider Buying: Portage Biotech (NASDAQ:ALP) Insider Acquires $19,570.00 in Stock

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani bought 5,150 shares of Portage Biotech stock in a transaction dated Wednesday, October 7th. The stock was purchased at an average price of $3.80 per share, for a total transaction of $19,570.00. Following the purchase, the insider directly owned 54,036 shares in the company, valued at $205,336.80. This represents a 10.53% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Fiorenzo Villani also recently made the following trade(s):

• On Tuesday, September 22nd, Fiorenzo Villani bought 10,000 shares of Portage Biotech stock. The stock was purchased at an average cost of $4.40 per share, for a total transaction of $44,000.00.
• On Wednesday, September 16th, Fiorenzo Villani bought 4,265 shares of Portage Biotech stock. The shares were purchased at an average price of $4.05 per share, with a total value of $17,273.25.
• On Tuesday, September 15th, Fiorenzo Villani purchased 7,900 shares of Portage Biotech stock. The shares were purchased at an average cost of $4.15 per share, with a total value of $32,785.00.
• On Tuesday, September 15th, Fiorenzo Villani purchased 10,382 shares of Portage Biotech stock. The shares were purchased at an average cost of $4.07 per share, with a total value of $42,254.74.
• On Monday, September 14th, Fiorenzo Villani purchased 2,000 shares of Portage Biotech stock. The stock was purchased at an average price of $4.16 per share, for a total transaction of $8,320.00.
• On Wednesday, September 9th, Fiorenzo Villani acquired 7,000 shares of Portage Biotech stock. The shares were purchased at an average cost of $5.07 per share, for a total transaction of $35,490.00.

Portage Biotech Price Performance

Shares of Portage Biotech stock opened at $3.80 on Tuesday. The stock has a market capitalization of $5.89 million, a price-to-earnings ratio of -0.01 and a beta of 0.63. The firm’s 50-day moving average price is $6.38 and its two-hundred day moving average price is $12.68. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01. Portage Biotech Inc. has a 1-year low of $3.20 and a 1-year high of $389.00.

Portage Biotech (NASDAQ:ALP) last posted its earnings results on Thursday, July 16th. The company reported $23.75 earnings per share (EPS) for the quarter. The firm had revenue of $0.05 million during the quarter. On average, equities analysts predict that Portage Biotech Inc. will post -14.00 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Portage Biotech Company Profile

Portage Biotech Inc is a clinical-stage biotechnology company focused on developing immuno-oncology therapies for patients with solid tumors. The company’s approach is designed to stimulate the immune system and directly target tumor cells, with the goal of addressing cancers that are resistant or unresponsive to existing treatments.

Portage’s lead investigational product is INT230-6, an intratumoral therapy based on a proprietary formulation designed to deliver anticancer agents directly into tumors.