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

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani bought 10,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was purchased at an average cost of $4.40 per share, for a total transaction of $44,000.00. Following the completion of the transaction, the insider owned 48,886 shares of the company’s stock, valued at $215,098.40. This represents a 25.72% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, September 16th, Fiorenzo Villani purchased 4,265 shares of Portage Biotech stock. The shares were purchased at an average price of $4.05 per share, for a total transaction of $17,273.25.
• On Tuesday, September 15th, Fiorenzo Villani purchased 7,900 shares of Portage Biotech stock. The stock was purchased at an average price of $4.15 per share, with a total value of $32,785.00.
• On Tuesday, September 15th, Fiorenzo Villani acquired 10,382 shares of Portage Biotech stock. The stock was purchased at an average cost of $4.07 per share, with a total value of $42,254.74.
• On Monday, September 14th, Fiorenzo Villani acquired 2,000 shares of Portage Biotech stock. The shares were purchased at an average price of $4.16 per share, for a total transaction of $8,320.00.
• On Wednesday, September 9th, Fiorenzo Villani bought 7,000 shares of Portage Biotech stock. The shares were purchased at an average cost of $5.07 per share, for a total transaction of $35,490.00.

Portage Biotech Price Performance

ALP opened at $5.58 on Friday. The firm has a market capitalization of $8.65 million, a P/E ratio of -0.01 and a beta of 0.54. The stock has a fifty day moving average of $8.38 and a 200-day moving average of $13.81. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.01. Portage Biotech Inc. has a 12-month low of $3.20 and a 12-month high of $690.00.

Portage Biotech (NASDAQ:ALP) last issued its quarterly earnings results on Thursday, July 16th. The company reported $23.75 earnings per share for the quarter. The business had revenue of $0.05 million for the quarter. Equities analysts forecast that Portage Biotech Inc. will post -14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALP shares. Zacks Research raised Portage Biotech to a “hold” rating in a research note on Tuesday, August 18th. Wall Street Zen raised shares of Portage Biotech to a “hold” rating in a research report on Saturday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Portage Biotech in a report on Friday, July 24th. Finally, HC Wainwright began coverage on shares of Portage Biotech in a research report on Monday, August 17th. They set a “neutral” rating and a $12.50 price objective on the stock. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock 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.