Insider Buying: Soligenix, Inc. (SNGX) Director Acquires $197,200.00 in Stock

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Soligenix, Inc. (NASDAQ:SNGX) Director Mark E. Pearson acquired 170,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The stock was bought at an average cost of $1.16 per share, for a total transaction of $197,200.00. Following the completion of the transaction, the director now directly owns 2,500,000 shares in the company, valued at approximately $2,900,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ:SNGX opened at $1.27 on Friday. Soligenix, Inc. has a one year low of $0.91 and a one year high of $3.70.

Soligenix (NASDAQ:SNGX) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Soligenix had a negative return on equity of 176.04% and a negative net margin of 120.14%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.20 million.

Separately, Maxim Group reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Soligenix in a research report on Thursday, September 13th.

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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