Insider Buying: Portage Biotech (NASDAQ:ALP) Insider Purchases $19,570.00 in Stock

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani bought 5,150 shares of the company’s stock in a transaction on Wednesday, October 7th. The shares were bought at an average price of $3.80 per share, with a total value of $19,570.00. Following the completion of the transaction, the insider owned 54,036 shares of the company’s stock, valued at $205,336.80. The trade was a 10.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Fiorenzo Villani also recently made the following trade(s):

• On Tuesday, September 22nd, Fiorenzo Villani purchased 10,000 shares of Portage Biotech stock. The stock was bought at an average cost of $4.40 per share, for a total transaction of $44,000.00.
• On Wednesday, September 16th, Fiorenzo Villani purchased 4,265 shares of Portage Biotech stock. The stock was bought at an average cost of $4.05 per share, for a total transaction of $17,273.25.
• On Tuesday, September 15th, Fiorenzo Villani acquired 7,900 shares of Portage Biotech stock. The shares were bought at an average price of $4.15 per share, for a total transaction of $32,785.00.
• On Tuesday, September 15th, Fiorenzo Villani acquired 10,382 shares of Portage Biotech stock. The shares were bought at an average price of $4.07 per share, for a total transaction of $42,254.74.
• On Monday, September 14th, Fiorenzo Villani acquired 2,000 shares of Portage Biotech stock. The shares were bought at an average cost of $4.16 per share, with a total value of $8,320.00.
• On Wednesday, September 9th, Fiorenzo Villani bought 7,000 shares of Portage Biotech stock. The stock was bought at an average price of $5.07 per share, with a total value of $35,490.00.

Portage Biotech Stock Down 4.3%

Shares of NASDAQ:ALP opened at $3.60 on Friday. The firm has a market capitalization of $5.58 million, a PE ratio of -0.01 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.31 and a current ratio of 0.31. Portage Biotech Inc. has a 52-week low of $3.20 and a 52-week high of $333.36. The firm has a fifty day moving average of $6.04 and a 200 day moving average of $12.42.

Portage Biotech (NASDAQ:ALP) last released its quarterly earnings results on Thursday, July 16th. The company reported $23.75 earnings per share for the quarter. The firm had revenue of $0.05 million for the quarter. As a group, research analysts anticipate that Portage Biotech Inc. will post -14.00 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Portage Biotech in a research report on Friday, July 24th. Zacks Research upgraded Portage Biotech to a “hold” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded Portage Biotech to a “hold” rating in a research report on Saturday, September 12th. Finally, HC Wainwright began coverage on Portage Biotech in a research note on Monday, August 17th. They issued a “neutral” rating and a $12.50 target price for the company. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Portage Biotech presently has a consensus rating of “Reduce” and an average price target of $12.50.

About Portage Biotech

Portage Biotech Inc is a clinical-stage biotechnology company focused on developing immuno-oncology therapies for patients with solid tumors. The company’s approach is designed to stimulate the immune system and directly target tumor cells, with the goal of addressing cancers that are resistant or unresponsive to existing treatments.

Portage’s lead investigational product is INT230-6, an intratumoral therapy based on a proprietary formulation designed to deliver anticancer agents directly into tumors.