Portage Biotech Inc. (NASDAQ:ALP) Short Interest Up 273.7% in August

Portage Biotech Inc. (NASDAQ:ALP – Get Free Report) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 3,529,718 shares, an increase of 273.7% from the July 30th total of 944,529 shares. Currently, 15.0% of the company’s shares are short sold. Based on an average trading volume of 13,840,418 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ALP shares. Zacks Research upgraded Portage Biotech to a “hold” rating in a research note on Tuesday, August 18th. HC Wainwright assumed coverage on Portage Biotech in a research note on Monday, August 17th. They issued a “neutral” rating and a $0.25 target price for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Portage Biotech in a research report on Friday, July 24th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $0.25.

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Portage Biotech Stock Performance

NASDAQ ALP opened at $0.17 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s fifty day moving average is $0.26 and its two-hundred day moving average is $0.32. The firm has a market capitalization of $3.97 million, a P/E ratio of -0.02 and a beta of 0.61. Portage Biotech has a fifty-two week low of $0.14 and a fifty-two week high of $13.80.

Portage Biotech (NASDAQ:ALP – Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The company reported $0.48 EPS for the quarter. The firm had revenue of $0.05 million for the quarter. On average, research analysts anticipate that Portage Biotech will post -0.28 earnings per share for the current year.

About Portage Biotech

(Get Free Report)

Portage Biotech (NASDAQ:ATON) is a biotechnology company focused on acquiring, developing and advancing therapeutic candidates and platform technologies. The company concentrates its development efforts primarily in areas such as oncology, immunology/inflammation and infectious disease, seeking to move programs from discovery and preclinical stages into clinical development through subsidiary companies and collaborative arrangements.

Portage structures its operations to support a diversified pipeline, advancing both small molecules and biologics by funding preclinical research, conducting clinical trials, and managing regulatory interactions.

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