Short Interest in Soligenix Inc. (NASDAQ:SNGX) Rises By 837.4%

Soligenix Inc. (NASDAQ:SNGX) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 6,514,042 shares, an increase of 837.4% from the May 14th total of 694,906 shares. Based on an average trading volume of 42,539,946 shares, the days-to-cover ratio is currently 0.2 days. Approximately 45.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Soligenix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in Soligenix in the 4th quarter valued at approximately $37,000. StoneX Group Inc. purchased a new stake in shares of Soligenix during the 4th quarter worth $50,000. Geode Capital Management LLC lifted its position in shares of Soligenix by 88.8% during the 4th quarter. Geode Capital Management LLC now owns 80,401 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 37,811 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Soligenix during the 4th quarter worth $51,000. Finally, Banco BTG Pactual S.A. purchased a new stake in shares of Soligenix during the 3rd quarter worth $54,000. Hedge funds and other institutional investors own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Soligenix in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.00.

Soligenix Trading Down 5.8%

SNGX stock opened at $0.43 on Friday. The company has a market cap of $6.39 million, a price-to-earnings ratio of -0.26 and a beta of 1.84. Soligenix has a 12 month low of $0.28 and a 12 month high of $6.23. The firm has a 50-day moving average of $0.75 and a two-hundred day moving average of $1.11.

Soligenix (NASDAQ:SNGX) last announced its quarterly earnings results on Friday, May 8th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. As a group, equities analysts forecast that Soligenix will post -0.9 earnings per share for the current year.

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.