Portage Biotech (NASDAQ:PRTG) Stock Price Down 4.4% – Here’s What Happened

Portage Biotech Inc. (NASDAQ:PRTG)’s stock price was down 4.4% during trading on Friday . The stock traded as low as $7.78 and last traded at $7.89. Approximately 9,537 shares changed hands during trading, a decline of 99% from the average daily volume of 980,303 shares. The stock had previously closed at $8.25.

Portage Biotech Stock Performance

The firm’s 50-day simple moving average is $7.56 and its 200 day simple moving average is $5.59. The stock has a market capitalization of $8.28 million, a P/E ratio of -0.19 and a beta of 0.48.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Portage Biotech stock. Citadel Advisors LLC acquired a new position in shares of Portage Biotech Inc. (NASDAQ:PRTG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,431 shares of the company’s stock, valued at approximately $80,000. Citadel Advisors LLC owned about 1.47% of Portage Biotech at the end of the most recent reporting period. Institutional investors own 13.36% of the company’s stock.

Portage Biotech Company Profile

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.