Portage Biotech Inc. (NASDAQ:ALP) Short Interest Update

Portage Biotech Inc. (NASDAQ:ALP) was the target of a large increase in short interest in 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. Based on an average trading volume of 13,840,418 shares, the short-interest ratio is currently 0.3 days. Currently, 15.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

ALP has been the subject of a number of research analyst reports. Zacks Research raised shares of Portage Biotech to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Portage Biotech in a research note on Friday, July 24th. Finally, HC Wainwright started coverage on shares of Portage Biotech in a report on Monday, August 17th. They set a “neutral” rating and a $0.25 target price for the company. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $0.25.

Portage Biotech Stock Up 0.5%

ALP opened at $0.17 on Thursday. The stock has a fifty day moving average of $0.26 and a 200-day moving average of $0.33. The company has a market capitalization of $3.96 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. 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 (NASDAQ:ALP) last released its quarterly earnings results on Thursday, July 16th. The company reported $0.48 EPS for the quarter. The business had revenue of $0.05 million during the quarter. On average, equities analysts expect that Portage Biotech will post -0.28 EPS for the current year.

About Portage Biotech

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.