Soligenix Inc. (NASDAQ:SNGX) Short Interest Update

Soligenix Inc. (NASDAQ:SNGX) saw a large decline in short interest in the month of August. As of August 15th, there was short interest totaling 264,300 shares, a decline of 22.1% from the July 31st total of 339,100 shares. Based on an average daily volume of 10,670,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 6.2% of the shares of the company are sold short. Currently, 6.2% of the shares of the company are sold short. Based on an average daily volume of 10,670,000 shares, the days-to-cover ratio is presently 0.0 days.

Soligenix Stock Performance

Shares of Soligenix stock opened at $2.68 on Wednesday. The firm’s 50-day simple moving average is $2.33 and its 200-day simple moving average is $2.11. Soligenix has a twelve month low of $1.09 and a twelve month high of $6.23. The firm has a market cap of $11.50 million, a P/E ratio of -0.71 and a beta of 2.05.

Soligenix (NASDAQ:SNGX) last issued its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.03). On average, equities analysts forecast that Soligenix will post -4.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SNGX shares. Wall Street Zen downgraded shares of Soligenix to a “strong sell” rating in a report on Saturday, August 16th. Alliance Global Partners dropped their price objective on shares of Soligenix from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Soligenix presently has an average rating of “Buy” and an average price target of $6.00.

Institutional Trading of Soligenix

An institutional investor recently raised its position in Soligenix stock. Connective Capital Management LLC increased its holdings in shares of Soligenix Inc. (NASDAQ:SNGX) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,481 shares of the biopharmaceutical company’s stock after acquiring an additional 17,848 shares during the period. Connective Capital Management LLC owned about 3.67% of Soligenix worth $157,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.60% of the company’s stock.

Soligenix Company Profile

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. The company operates through two segments, Specialized BioTherapeutics and Public Health Solutions. The Specialized BioTherapeutics segment develops SGX301 (HyBryte), a novel photodynamic therapy, which has completed Phase III clinical trial for the treatment of cutaneous T-cell lymphoma; SGX942, an innate defense regulator technology that is in Phase III clinical trial for the treatment of inflammatory diseases, including oral mucositis in head and neck cancer; SGX302, an IDR technology which is in Phase IIa study to treat mil-to-moderate Psoriasis; and SGX945 and IDR technology that is in Phase IIa protocol for the treatment of Aphthous Ulcers in Behçet's Disease.