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

Portage Biotech Inc. (NASDAQ:ALP) was the recipient of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 3,529,718 shares, a growth of 273.7% from the July 30th total of 944,529 shares. Based on an average daily volume of 13,840,418 shares, the short-interest ratio is currently 0.3 days. Currently, 15.0% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Portage Biotech Price Performance

ALP stock opened at $0.17 on Thursday. The stock has a market cap of $3.96 million, a price-to-earnings ratio of -0.02 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.31 and a quick ratio of 0.31. The company has a 50 day simple moving average of $0.26 and a 200 day simple moving average of $0.33. Portage Biotech has a 1 year low of $0.14 and a 1 year high of $13.80.

Portage Biotech (NASDAQ:ALP) last issued its earnings results on Thursday, July 16th. The company reported $0.48 earnings per share for the quarter. The company had revenue of $0.05 million during the quarter. Research analysts anticipate that Portage Biotech will post -0.28 EPS for the current fiscal year.

Portage Biotech Company Profile

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.