Insider Buying: Portage Biotech (NASDAQ:ALP) Insider Acquires 10,382 Shares of Stock

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani bought 10,382 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were acquired at an average price of $4.07 per share, for a total transaction of $42,254.74. Following the completion of the acquisition, the insider owned 34,601 shares in the company, valued at $140,826.07. This represents a 42.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was acquired at an average cost of $4.05 per share, with a total value 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 cost of $4.15 per share, with a total value of $32,785.00.
• On Monday, September 14th, Fiorenzo Villani purchased 2,000 shares of Portage Biotech stock. The stock was bought at an average cost of $4.16 per share, with a total value of $8,320.00.
• On Wednesday, September 9th, Fiorenzo Villani bought 7,000 shares of Portage Biotech stock. The stock was bought at an average price of $5.07 per share, for a total transaction of $35,490.00.

Portage Biotech Stock Up 9.8%

Shares of NASDAQ ALP traded up $0.40 during trading hours on Thursday, hitting $4.50. 53,755 shares of the stock were exchanged, compared to its average volume of 232,688. Portage Biotech Inc. has a 12 month low of $3.20 and a 12 month high of $690.00. The firm has a fifty day moving average price of $9.78 and a 200-day moving average price of $14.39. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.01. The company has a market cap of $6.97 million, a PE ratio of -0.01 and a beta of 0.54.

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

Analyst Ratings Changes

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

About Portage Biotech

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.