Portage Biotech (NASDAQ:ALP) Insider Acquires 4,265 Shares

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani acquired 4,265 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were acquired at an average price of $4.05 per share, with a total value of $17,273.25. Following the completion of the purchase, the insider owned 38,886 shares in the company, valued at approximately $157,488.30. This trade represents a 12.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 bought 2,000 shares of Portage Biotech stock. The shares were acquired at an average price of $4.16 per share, with a total value 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 $0.40 during midday trading on Thursday, hitting $4.50. 53,755 shares of the company were exchanged, compared to its average volume of 232,688. The company’s 50 day simple moving average is $9.78 and its 200 day simple moving average is $14.39. The firm has a market capitalization of $6.97 million, a price-to-earnings ratio of -0.01 and a beta of 0.54. 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 Inc. has a 1-year low of $3.20 and a 1-year high of $690.00.

Portage Biotech (NASDAQ:ALP) last issued its quarterly earnings data on Thursday, July 16th. The company reported $23.75 earnings per share (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.

Analyst Ratings Changes

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

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.