Soligenix Inc. (NASDAQ:SNGX) Sees Large Drop in Short Interest

Soligenix Inc. (NASDAQ:SNGX) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 454,993 shares, a drop of 12.5% from the December 31st total of 519,758 shares. Based on an average trading volume of 182,251 shares, the days-to-cover ratio is presently 2.5 days. Currently, 4.7% of the company’s stock are short sold. Currently, 4.7% of the company’s stock are short sold. Based on an average trading volume of 182,251 shares, the days-to-cover ratio is presently 2.5 days.

Soligenix Price Performance

Shares of Soligenix stock opened at $1.23 on Tuesday. The firm’s fifty day simple moving average is $1.42 and its 200-day simple moving average is $1.86. Soligenix has a 12 month low of $1.09 and a 12 month high of $6.23. The stock has a market capitalization of $12.41 million, a price-to-earnings ratio of -0.34 and a beta of 2.01.

Soligenix (NASDAQ:SNGX) last issued its quarterly earnings data on Friday, November 7th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.05. Analysts anticipate that Soligenix will post -4.65 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Soligenix in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Soligenix has an average rating of “Hold” and an average target price of $6.00.

Hedge Funds Weigh In On Soligenix

Several institutional investors have recently added to or reduced their stakes in the stock. Banco BTG Pactual S.A. purchased a new stake in Soligenix during the 3rd quarter valued at approximately $54,000. Virtu Financial LLC purchased a new position in shares of Soligenix in the 3rd quarter valued at approximately $59,000. Sabby Management LLC acquired a new position in shares of Soligenix in the third quarter valued at approximately $94,000. Two Sigma Investments LP purchased a new stake in shares of Soligenix during the third quarter worth approximately $102,000. Finally, Connective Capital Management LLC raised its stake in shares of Soligenix by 17.6% during the second quarter. Connective Capital Management LLC now owns 119,481 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 17,848 shares during the last quarter. Institutional investors and hedge funds own 3.60% of the company’s stock.

About Soligenix

Soligenix, Inc is a clinical‐stage biopharmaceutical company focused on developing vaccines and therapeutics to address unmet medical needs in rare diseases and biodefense. The company leverages proprietary technologies to create novel vaccine adjuvants, small‐molecule innate defense regulators and photodynamic therapies aimed at improving patient outcomes in orphan indications and protecting public health against biological threats.

The company’s pipeline is organized into two core divisions.