Short Interest in Soligenix Inc. (NASDAQ:SNGX) Drops By 64.5%

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

Soligenix Stock Performance

Shares of NASDAQ SNGX opened at $0.38 on Friday. Soligenix has a 52-week low of $0.28 and a 52-week high of $3.22. The firm has a market capitalization of $5.58 million, a price-to-earnings ratio of -0.38 and a beta of 1.93. The stock has a 50 day moving average price of $0.38 and a 200 day moving average price of $0.71.

Soligenix (NASDAQ:SNGX) last released its quarterly earnings data on Friday, August 7th. The biopharmaceutical company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. Analysts forecast that Soligenix will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On Soligenix

Several institutional investors have recently made changes to their positions in SNGX. XTX Topco Ltd bought a new stake in shares of Soligenix in the fourth quarter valued at about $37,000. Jane Street Group LLC purchased a new stake in Soligenix in the fourth quarter worth about $51,000. StoneX Group Inc. bought a new position in Soligenix during the 4th quarter worth about $50,000. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 37,811 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in Soligenix during the 3rd quarter valued at about $821,000. Hedge funds and other institutional investors own 3.60% of the company’s stock.

Analysts Set New Price Targets

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

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.