Soligenix Inc. (NASDAQ:SNGX) Short Interest Up 837.4% in May

Soligenix Inc. (NASDAQ:SNGX) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 6,514,042 shares, a growth 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 stock are sold short.

Soligenix Trading Up 1.1%

Shares of Soligenix stock opened at $0.43 on Wednesday. The company’s 50-day moving average price is $0.78 and its two-hundred day moving average price is $1.12. Soligenix has a 52 week low of $0.28 and a 52 week high of $6.23. The stock has a market cap of $6.33 million, a PE ratio of -0.25 and a beta of 1.84.

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

Hedge Funds Weigh In On Soligenix

A number of hedge funds have recently modified their holdings of the stock. Armistice Capital LLC acquired a new position in shares of Soligenix in the 3rd quarter worth $821,000. Two Sigma Investments LP acquired a new position in shares of Soligenix in the 3rd quarter worth $102,000. Sabby Management LLC acquired a new position in shares of Soligenix in the 3rd quarter worth $94,000. Geode Capital Management LLC grew its holdings in shares of Soligenix by 88.8% in the 4th quarter. Geode Capital Management LLC now owns 80,401 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 37,811 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Soligenix in the 3rd quarter worth $59,000. 3.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.