Soligenix, Inc. (NASDAQ:SNGX) Sees Significant Growth in Short Interest

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Soligenix, Inc. (NASDAQ:SNGX) saw a large growth in short interest during the month of 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. Based on an average daily volume of 137,600 shares, the short-interest ratio is currently 1.1 days. Currently, 0.9% of the shares of the company are short sold.

Several brokerages have issued reports on SNGX. Maxim Group reissued a “buy” rating and set a $4.00 price objective on shares of Soligenix in a research report on Wednesday, December 4th. ValuEngine cut shares of Soligenix from a “sell” rating to a “strong sell” rating in a research note on Friday, December 13th.

An institutional investor recently raised its position in Soligenix stock. Vanguard Group Inc. raised its position in Soligenix, Inc. (NASDAQ:SNGX) by 23.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 412,158 shares of the biopharmaceutical company’s stock after acquiring an additional 76,955 shares during the period. Vanguard Group Inc. owned approximately 2.10% of Soligenix worth $293,000 at the end of the most recent reporting period. Institutional investors own 9.94% of the company’s stock.

SNGX stock opened at $2.95 on Tuesday. Soligenix has a one year low of $0.65 and a one year high of $3.23. The stock has a market capitalization of $61.13 million, a PE ratio of -5.57 and a beta of 1.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 1.42. The company has a fifty day moving average of $1.71 and a 200-day moving average of $1.18.

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