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

Portage Biotech Inc. (NASDAQ:PRTG) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 17,400 shares, a growth of 33.8% from the February 13th total of 13,000 shares. Currently, 10.6% of the shares of the stock are sold short. Based on an average daily volume of 650,300 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On Portage Biotech

An institutional investor recently bought a new position in Portage Biotech stock. Citadel Advisors LLC acquired a new position in Portage Biotech Inc. (NASDAQ:PRTG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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 filing with the Securities and Exchange Commission. Institutional investors own 13.36% of the company’s stock.

Portage Biotech Stock Performance

Portage Biotech stock traded up $0.12 during mid-day trading on Monday, hitting $4.33. 2,787 shares of the company traded hands, compared to its average volume of 70,666. Portage Biotech has a one year low of $2.10 and a one year high of $23.01. The stock has a market cap of $4.54 million, a price-to-earnings ratio of -0.10 and a beta of 1.29. The stock has a fifty day moving average price of $4.44 and a 200-day moving average price of $4.96.

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.