Short Interest in Soligenix Inc. (NASDAQ:SNGX) Expands By 22.6%

Soligenix Inc. (NASDAQ:SNGX) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 604,892 shares, an increase of 22.6% from the January 29th total of 493,204 shares. Based on an average daily volume of 166,650 shares, the short-interest ratio is presently 3.6 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 166,650 shares, the short-interest ratio is presently 3.6 days.

Soligenix Price Performance

Soligenix stock opened at $1.17 on Thursday. The stock has a market capitalization of $11.81 million, a PE ratio of -0.33 and a beta of 1.99. The business has a 50 day simple moving average of $1.26 and a 200-day simple moving average of $1.70. Soligenix has a 12 month low of $1.02 and a 12 month high of $6.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Connective Capital Management LLC increased its stake in Soligenix by 17.6% during the 2nd quarter. Connective Capital Management LLC now owns 119,481 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 17,848 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of Soligenix in the third quarter worth approximately $54,000. Sabby Management LLC purchased a new stake in shares of Soligenix during the third quarter worth approximately $94,000. Two Sigma Investments LP acquired a new position in Soligenix in the 3rd quarter valued at $102,000. Finally, Virtu Financial LLC acquired a new position in Soligenix in the 3rd quarter valued at $59,000. 3.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Soligenix in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Soligenix has a consensus rating of “Hold” and an average target price 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.