Soligenix Inc. (NASDAQ:SNGX) Short Interest Down 64.5% in August

Soligenix Inc. (NASDAQ:SNGX) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 207,637 shares, a drop of 64.5% from the July 30th total of 585,019 shares. Based on an average daily volume of 171,039 shares, the short-interest ratio is currently 1.2 days. Currently, 1.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Soligenix in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Soligenix Price Performance

Shares of NASDAQ SNGX traded down $0.00 during mid-day trading on Friday, hitting $0.38. The company had a trading volume of 139,469 shares, compared to its average volume of 248,774. The company has a market capitalization of $5.58 million, a PE ratio of -0.38 and a beta of 1.93. Soligenix has a 1-year low of $0.28 and a 1-year high of $3.22. The business’s 50-day simple moving average is $0.38 and its 200 day simple moving average is $0.71.

Soligenix (NASDAQ:SNGX) last released its earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. On average, analysts expect that Soligenix will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Soligenix

A number of institutional investors and hedge funds have recently made changes to their positions in SNGX. Armistice Capital LLC purchased a new stake in shares of Soligenix during the third quarter worth approximately $821,000. Two Sigma Investments LP purchased a new position in Soligenix in the third quarter worth approximately $102,000. Virtu Financial LLC acquired a new position in Soligenix during the 3rd quarter worth approximately $59,000. Banco BTG Pactual S.A. acquired a new position in Soligenix during the 3rd quarter worth approximately $54,000. Finally, Jane Street Group LLC purchased a new stake in shares of Soligenix in the 4th quarter valued at approximately $51,000. 3.60% of the stock is owned by institutional investors and hedge funds.

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.