Portage Biotech Inc. (NASDAQ:PRTG) Sees Significant Growth in Short Interest

Portage Biotech Inc. (NASDAQ:PRTG) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 17,400 shares, an increase of 33.8% from the February 13th total of 13,000 shares. Based on an average trading volume of 650,300 shares, the short-interest ratio is currently 0.0 days. Approximately 10.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Portage Biotech

An institutional investor recently bought a new position in Portage Biotech stock. Virtu Financial LLC acquired a new stake in shares of Portage Biotech Inc. (NASDAQ:PRTG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & 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 as of its most recent SEC filing. Institutional investors own 13.36% of the company’s stock.

Portage Biotech Stock Performance

Shares of NASDAQ:PRTG traded up $0.12 during midday trading on Monday, reaching $4.33. 2,787 shares of the company’s stock 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 company 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 50 day moving average of $4.44 and a 200 day moving average of $4.96.

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.