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

Soligenix Inc. (NASDAQ:SNGX) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 479,055 shares, a decrease of 92.6% from the May 31st total of 6,514,042 shares. Based on an average trading volume of 3,609,843 shares, the short-interest ratio is presently 0.1 days. Approximately 3.3% of the shares of the stock are short sold.

Soligenix Trading Up 3.8%

SNGX stock traded up $0.01 during trading on Friday, reaching $0.41. 642,483 shares of the stock were exchanged, compared to its average volume of 2,996,018. The firm has a market capitalization of $6.08 million, a price-to-earnings ratio of -0.24 and a beta of 1.84. The business has a 50 day moving average price of $0.59 and a 200-day moving average price of $1.03. Soligenix has a 1 year low of $0.28 and a 1 year high of $6.23.

Soligenix (NASDAQ:SNGX) last posted its quarterly earnings results on Friday, May 8th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. On average, research analysts anticipate that Soligenix will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Soligenix during the fourth quarter worth $37,000. Jane Street Group LLC purchased a new stake in Soligenix in the fourth quarter valued at $51,000. StoneX Group Inc. acquired a new position in shares of Soligenix in the 4th quarter valued at $50,000. Geode Capital Management LLC grew its holdings 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 period. Finally, Armistice Capital LLC purchased a new position in shares of Soligenix during the 3rd quarter worth $821,000. 3.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Soligenix in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

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.