Soligenix Inc. (NASDAQ:SNGX) Short Interest Update

Soligenix Inc. (NASDAQ:SNGX) saw a large increase in short interest during the month of 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 daily trading volume, of 42,539,946 shares, the short-interest ratio is presently 0.2 days. Approximately 45.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Soligenix in a report 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. Based on data from MarketBeat, Soligenix presently has an average rating of “Hold” and a consensus price target of $6.00.

Institutional Trading of Soligenix

Hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new position in shares of Soligenix during the 3rd quarter valued at $821,000. Two Sigma Investments LP acquired a new position in shares of Soligenix during the 3rd quarter valued at $102,000. Sabby Management LLC acquired a new position in shares of Soligenix during the 3rd quarter valued at $94,000. Geode Capital Management LLC increased 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 valued at $108,000 after purchasing an additional 37,811 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Soligenix during the 3rd quarter valued at $59,000. Institutional investors own 3.60% of the company’s stock.

Soligenix Price Performance

Shares of NASDAQ SNGX traded down $0.02 during mid-day trading on Thursday, hitting $0.44. The company had a trading volume of 394,429 shares, compared to its average volume of 4,247,898. The stock has a market cap of $6.54 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’s 50 day simple moving average is $0.77 and its two-hundred day simple moving average is $1.12.

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 the consensus estimate of ($0.30) by $0.02. Equities analysts forecast that Soligenix will post -0.9 earnings per share for the current 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.