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

Soligenix Inc. (NASDAQ:SNGX) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 207,637 shares, a decline of 64.5% from the July 30th total of 585,019 shares. Based on an average daily trading volume, of 171,039 shares, the short-interest ratio is currently 1.2 days. Currently, 1.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Soligenix in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Soligenix presently has an average rating of “Sell”.

Hedge Funds Weigh In On Soligenix

Several hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of Soligenix in the fourth quarter valued at about $37,000. StoneX Group Inc. bought a new position in Soligenix in the fourth quarter valued at approximately $50,000. Jane Street Group LLC bought a new position in Soligenix in the fourth quarter valued at approximately $51,000. Banco BTG Pactual S.A. acquired a new position in shares of Soligenix during the 3rd quarter worth approximately $54,000. Finally, Virtu Financial LLC acquired a new position in shares of Soligenix during the 3rd quarter worth approximately $59,000. Institutional investors own 3.60% of the company’s stock.

Soligenix Stock Performance

NASDAQ SNGX traded down $0.00 during trading on Friday, hitting $0.38. The stock had a trading volume of 139,469 shares, compared to its average volume of 2,996,985. Soligenix has a 12 month low of $0.28 and a 12 month high of $3.22. The company’s 50-day moving average price is $0.38 and its two-hundred day moving average price is $0.72. The company has a market capitalization of $5.59 million, a PE ratio of -0.38 and a beta of 1.93.

Soligenix (NASDAQ:SNGX) last issued its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. As a group, equities analysts anticipate that Soligenix will post -0.55 earnings per share for the current fiscal year.

Soligenix Company Profile

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.