Short Interest in Soligenix, Inc. (NASDAQ:SNGX) Expands By 357.7%

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Soligenix, Inc. (NASDAQ:SNGX) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 157,900 shares, a growth of 357.7% from the December 31st total of 34,500 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 137,600 shares, the days-to-cover ratio is presently 1.1 days.

An institutional investor recently raised its position in Soligenix stock. Vanguard Group Inc. lifted its position in shares of Soligenix, Inc. (NASDAQ:SNGX) by 23.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 412,158 shares of the biopharmaceutical company’s stock after purchasing an additional 76,955 shares during the period. Vanguard Group Inc. owned 2.10% of Soligenix worth $293,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 9.94% of the company’s stock.

SNGX has been the topic of a number of research analyst reports. ValuEngine downgraded Soligenix from a “sell” rating to a “strong sell” rating in a report on Friday, December 13th. Maxim Group reaffirmed a “buy” rating and issued a $4.00 target price on shares of Soligenix in a report on Wednesday, December 4th.

Shares of SNGX stock traded down $0.02 during trading hours on Friday, reaching $2.96. The company’s stock had a trading volume of 1,647,911 shares, compared to its average volume of 449,005. The firm’s 50 day simple moving average is $1.60 and its 200-day simple moving average is $1.15. The company has a market capitalization of $61.55 million, a price-to-earnings ratio of -5.58 and a beta of 1.40. Soligenix has a fifty-two week low of $0.65 and a fifty-two week high of $3.23. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.01.

Soligenix (NASDAQ:SNGX) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). The business had revenue of $1.30 million during the quarter, compared to analyst estimates of $1.40 million. Soligenix had a negative net margin of 193.39% and a negative return on equity of 212.69%. Sell-side analysts predict that Soligenix will post -0.46 earnings per share for the current year.

Soligenix Company Profile

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. It operates in two segments, BioTherapeutics and Vaccines/BioDefense. The BioTherapeutics segment develops SGX301, a photodynamic therapy, which is in Phase III clinical trial to treat cutaneous T-cell lymphoma; and SGX942, an innate defense regulator technology that has completed Phase II clinical trial to treat oral mucositis in head and neck cancer.

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