Short Interest in Portage Biotech Inc. (NASDAQ:PRTG) Decreases By 56.6%

Portage Biotech Inc. (NASDAQ:PRTG) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 49,600 shares, a drop of 56.6% from the April 30th total of 114,400 shares. Approximately 30.3% of the company’s stock are sold short. Based on an average daily trading volume, of 1,310,000 shares, the short-interest ratio is currently 0.0 days.

Portage Biotech Price Performance

Portage Biotech stock opened at $7.87 on Friday. Portage Biotech has a 1-year low of $2.10 and a 1-year high of $23.01. The stock has a market cap of $8.26 million, a PE ratio of -0.19 and a beta of 0.48. The stock’s fifty day moving average is $7.94 and its two-hundred day moving average is $5.72.

Institutional Trading of Portage Biotech

A hedge fund recently bought a new stake in Portage Biotech stock. Citadel Advisors LLC bought a new position in shares of Portage Biotech Inc. (NASDAQ:PRTG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,431 shares of the company’s stock, valued at approximately $80,000. Citadel Advisors LLC owned approximately 1.47% of Portage Biotech as of its most recent filing with the Securities and Exchange Commission (SEC). 13.36% of the stock is 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.