Soligenix (NASDAQ:SNGX) Lowered to “Strong Sell” Rating by Wall Street Zen

Soligenix (NASDAQ:SNGX) was downgraded by Wall Street Zen to a “strong sell” rating in a note issued to investors on Saturday.

Separately, Alliance Global Partners dropped their target price on Soligenix from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th.

Soligenix Trading Down 5.4%

Shares of NASDAQ SNGX opened at $2.78 on Friday. Soligenix has a twelve month low of $1.09 and a twelve month high of $5.40. The stock has a 50 day moving average of $1.79 and a two-hundred day moving average of $2.01. The stock has a market cap of $9.06 million, a P/E ratio of -0.73 and a beta of 1.95.

Soligenix (NASDAQ:SNGX) last issued its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.03). As a group, research analysts predict that Soligenix will post -4.65 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Soligenix stock. Geode Capital Management LLC grew its stake in Soligenix Inc. (NASDAQ:SNGX) by 42.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,094 shares of the biopharmaceutical company’s stock after purchasing an additional 7,729 shares during the period. Geode Capital Management LLC owned approximately 1.04% of Soligenix worth $71,000 at the end of the most recent reporting period. 3.60% of the stock is currently owned by institutional investors and hedge funds.

About Soligenix

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.