Portage Biotech (NASDAQ:ALP) Insider Buys $44,000.00 in Stock

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani purchased 10,000 shares of Portage Biotech stock in a transaction on Tuesday, September 22nd. The shares were acquired at an average cost of $4.40 per share, with a total value of $44,000.00. Following the completion of the transaction, the insider directly owned 48,886 shares in the company, valued at $215,098.40. The trade was a 25.72% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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

Portage Biotech Stock Performance

ALP traded up $0.04 during midday trading on Wednesday, hitting $4.39. 138,531 shares of the company were exchanged, compared to its average volume of 229,382. The company’s 50 day simple moving average is $9.06 and its 200 day simple moving average is $14.06. The firm has a market capitalization of $6.80 million, a price-to-earnings ratio of -0.01 and a beta of 0.54. Portage Biotech Inc. has a 1-year low of $3.20 and a 1-year high of $690.00. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01.

Portage Biotech (NASDAQ:ALP) last issued its earnings results on Thursday, July 16th. The company reported $23.75 EPS for the quarter. The company had revenue of $0.05 million during the quarter. As a group, sell-side analysts predict that Portage Biotech Inc. will post -14 earnings per share for the current year.

Analysts Set New Price Targets

ALP has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Portage Biotech in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Portage Biotech to a “hold” rating in a research note on Saturday, September 12th. Zacks Research raised shares of Portage Biotech to a “hold” rating in a report on Tuesday, August 18th. Finally, HC Wainwright started coverage on shares of Portage Biotech in a research report on Monday, August 17th. They set a “neutral” rating and a $12.50 price target on the stock. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Portage Biotech presently has an average rating of “Reduce” and a consensus price target of $12.50.

Portage Biotech Company Profile

Portage Biotech Inc is a clinical-stage biotechnology company focused on developing immuno-oncology treatments designed to stimulate the immune system to target and eliminate cancer cells. Its research has centered on therapies involving invariant natural killer T (iNKT) cells, a specialized immune-cell population that may help generate targeted antitumor responses.

The company’s pipeline has included investigational therapies intended for use in solid tumors, including approaches that combine immune-cell activation with mechanisms designed to improve the tumor microenvironment and enhance treatment response.