Portage Biotech (NASDAQ:PRTG) Stock Price Down 1.8% – Should You Sell?

Portage Biotech Inc. (NASDAQ:PRTG) dropped 1.8% during mid-day trading on Friday . The company traded as low as $5.40 and last traded at $5.58. Approximately 36,592 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 557,344 shares. The stock had previously closed at $5.68.

Portage Biotech Stock Down 1.8 %

The company’s 50-day simple moving average is $5.78 and its 200 day simple moving average is $4.92. The company has a market capitalization of $5.85 million, a P/E ratio of -0.12 and a beta of 1.59.

Portage Biotech (NASDAQ:PRTG) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($24.20) earnings per share (EPS) for the quarter. As a group, equities research analysts forecast that Portage Biotech Inc. will post -13 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Portage Biotech stock. Sanctuary Advisors LLC purchased a new stake in shares of Portage Biotech Inc. (NASDAQ:PRTG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 297,728 shares of the company’s stock, valued at approximately $63,000. Sanctuary Advisors LLC owned about 28.36% of Portage Biotech as of its most recent SEC filing. 13.36% of the stock is currently owned by institutional investors and hedge funds.

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.