Portage Biotech (NASDAQ:PRTG) Trading Down 1.8% – Here’s What Happened

Shares of Portage Biotech Inc. (NASDAQ:PRTG) fell 1.8% during trading on Friday . The company traded as low as $5.40 and last traded at $5.58. 36,592 shares changed hands during trading, a decline of 93% from the average session volume of 557,344 shares. The stock had previously closed at $5.68.

Portage Biotech Trading Down 1.8 %

The company has a market cap of $5.86 million, a price-to-earnings ratio of -0.12 and a beta of 1.57. The business has a fifty day moving average price of $5.78 and a two-hundred day moving average price of $4.93.

Portage Biotech (NASDAQ:PRTG) last announced its earnings results on Thursday, August 15th. The company reported ($24.20) earnings per share (EPS) for the quarter. On average, analysts anticipate that Portage Biotech Inc. will post -13 EPS for the current year.

Hedge Funds Weigh In On Portage Biotech

A hedge fund recently bought a new stake in Portage Biotech stock. Sanctuary Advisors LLC bought a new stake in Portage Biotech Inc. (NASDAQ:PRTG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 297,728 shares of the company’s stock, valued at approximately $63,000. Sanctuary Advisors LLC owned about 28.36% of Portage Biotech as of its most recent filing with the SEC. 13.36% of the stock is owned by institutional investors and hedge funds.

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.