Portage Biotech (NASDAQ:PRTG) Trading Up 13%

Portage Biotech Inc. (NASDAQ:PRTG) was up 13% during mid-day trading on Thursday . The company traded as high as $0.26 and last traded at $0.26. Approximately 38,452 shares were traded during trading, a decline of 54% from the average daily volume of 83,108 shares. The stock had previously closed at $0.23.

Wall Street Analyst Weigh In

Separately, HC Wainwright downgraded Portage Biotech from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th.

Portage Biotech Stock Performance

The company has a market capitalization of $4.82 million, a PE ratio of -0.03 and a beta of 1.20. The firm has a 50-day moving average of $0.47 and a two-hundred day moving average of $1.00. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.01.

Portage Biotech (NASDAQ:PRTG) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. Research analysts anticipate that Portage Biotech Inc. will post -1.03 EPS for the current year.

Hedge Funds Weigh In On Portage Biotech

An institutional investor recently bought a new position in Portage Biotech stock. Armistice Capital LLC acquired a new position in shares of Portage Biotech Inc. (NASDAQ:PRTG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,968,105 shares of the company’s stock, valued at approximately $4,113,000. Armistice Capital LLC owned 11.06% of Portage Biotech as of its most recent filing with the Securities & Exchange Commission. 13.36% of the stock is owned by hedge funds and other 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.