Key Points
- Insider buying: Fiorenzo Villani purchased 5,150 Portage Biotech shares at $3.80 each, a $19,570 transaction that increased his holdings by 10.53% to 54,036 shares. The purchase followed several additional buys since September.
- Stock performance and finances: ALP opened at $4.02 and was reported up 5.8%, but the stock remains well below its 50-day and 200-day moving averages. Portage reported $0.05 million in quarterly revenue, while analysts expect a full-year loss of $14 per share.
- Analyst view: Ratings range from Hold to Sell, with an overall MarketBeat consensus of “Reduce” and an average price target of $12.50.
Portage Biotech Inc. (NASDAQ:ALP - Get Free Report) insider Fiorenzo Villani bought 5,150 shares of the stock in a transaction on Wednesday, October 7th. The shares were acquired at an average cost of $3.80 per share, for a total transaction of $19,570.00. Following the purchase, the insider owned 54,036 shares in the company, valued at $205,336.80. The trade was a 10.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Fiorenzo Villani also recently made the following trade(s):
- On Tuesday, September 22nd, Fiorenzo Villani bought 10,000 shares of Portage Biotech stock. The shares were acquired at an average cost of $4.40 per share, with a total value of $44,000.00.
- On Wednesday, September 16th, Fiorenzo Villani bought 4,265 shares of Portage Biotech stock. The stock was acquired at an average price of $4.05 per share, with a total value of $17,273.25.
- On Tuesday, September 15th, Fiorenzo Villani bought 7,900 shares of Portage Biotech stock. The stock was acquired at an average price of $4.15 per share, with a total value of $32,785.00.
- On Tuesday, September 15th, Fiorenzo Villani purchased 10,382 shares of Portage Biotech stock. The stock was acquired at an average cost of $4.07 per share, for a total transaction 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 shares were acquired at an average price of $5.07 per share, for a total transaction of $35,490.00.
Portage Biotech Stock Up 5.8%
ALP opened at $4.02 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.31 and a quick ratio of 0.31. The company's 50 day simple moving average is $6.26 and its two-hundred day simple moving average is $12.59. Portage Biotech Inc. has a 1-year low of $3.20 and a 1-year high of $370.50.
Portage Biotech (NASDAQ:ALP - Get Free Report) last issued its earnings results on Thursday, July 16th. The company reported $23.75 earnings per share for the quarter. The company had revenue of $0.05 million for the quarter. Research analysts anticipate that Portage Biotech Inc. will post -14.00 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on ALP shares. HC Wainwright began coverage on Portage Biotech in a research report on Monday, August 17th. They set a "neutral" rating and a $12.50 price objective on the stock. Zacks Research upgraded Portage Biotech to a "hold" rating in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Portage Biotech in a research note on Friday, July 24th. Finally, Wall Street Zen raised Portage Biotech to a "hold" rating in a research note on Saturday, September 12th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Portage Biotech has an average rating of "Reduce" and an average target price of $12.50.
Check Out Our Latest Stock Report on Portage Biotech
About Portage Biotech
(
Get Free Report)
Portage Biotech Inc is a clinical-stage biotechnology company focused on developing immuno-oncology therapies for patients with solid tumors. The company's approach is designed to stimulate the immune system and directly target tumor cells, with the goal of addressing cancers that are resistant or unresponsive to existing treatments.
Portage's lead investigational product is INT230-6, an intratumoral therapy based on a proprietary formulation designed to deliver anticancer agents directly into tumors.
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