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

Portage Biotech Inc. (NASDAQ:PRTG) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 308,400 shares, an increase of 2,134.8% from the March 15th total of 13,800 shares. Based on an average daily volume of 574,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 50.7% of the company’s shares are sold short.

Portage Biotech Stock Up 3.4 %

Shares of NASDAQ:PRTG opened at $8.88 on Tuesday. The business has a fifty day simple moving average of $5.07 and a 200-day simple moving average of $5.04. 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 $9.32 million, a P/E ratio of -0.21 and a beta of 0.54.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Portage Biotech stock. Virtu Financial LLC bought a new stake in Portage Biotech Inc. (NASDAQ:PRTG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,919 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned 1.04% of Portage Biotech as of its most recent filing with the Securities & Exchange Commission. 13.36% of the stock is currently owned by institutional investors.

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.