Short Interest in Portage Biotech Inc. (NASDAQ:PRTG) Drops By 20.7%

Portage Biotech Inc. (NASDAQ:PRTG) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 13,800 shares, a drop of 20.7% from the February 28th total of 17,400 shares. Based on an average trading volume of 86,500 shares, the short-interest ratio is currently 0.2 days. Currently, 8.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Portage Biotech

An institutional investor recently bought a new position in Portage Biotech stock. Virtu Financial LLC acquired a new position in Portage Biotech Inc. (NASDAQ:PRTG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,919 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned about 1.04% of Portage Biotech at the end of the most recent reporting period. 13.36% of the stock is currently owned by hedge funds and other institutional investors.

Portage Biotech Stock Performance

Shares of NASDAQ PRTG opened at $8.16 on Monday. The firm’s fifty day moving average is $4.52 and its two-hundred day moving average is $5.05. Portage Biotech has a 52-week low of $2.10 and a 52-week high of $23.01. The company has a market cap of $8.56 million, a P/E ratio of -0.21 and a beta of 1.29.

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.