Short Interest in Soligenix Inc. (NASDAQ:SNGX) Decreases By 12.5%

Soligenix Inc. (NASDAQ:SNGX) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 454,993 shares, a drop of 12.5% from the December 31st total of 519,758 shares. Approximately 4.7% of the company’s stock are sold short. Based on an average daily trading volume, of 182,251 shares, the short-interest ratio is presently 2.5 days. Based on an average daily trading volume, of 182,251 shares, the short-interest ratio is presently 2.5 days. Approximately 4.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Soligenix in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.00.

Institutional Trading of Soligenix

Institutional investors have recently added to or reduced their stakes in the business. Connective Capital Management LLC increased its stake in shares of 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 purchasing an additional 17,848 shares during the last quarter. Banco BTG Pactual S.A. bought a new stake in Soligenix in the third quarter worth $54,000. Virtu Financial LLC bought a new stake in Soligenix in the third quarter worth $59,000. Sabby Management LLC acquired a new position in Soligenix during the third quarter worth $94,000. Finally, Two Sigma Investments LP bought a new position in Soligenix during the third quarter valued at about $102,000. 3.60% of the stock is currently owned by institutional investors and hedge funds.

Soligenix Trading Down 5.7%

SNGX opened at $1.16 on Thursday. The stock has a fifty day moving average price of $1.41 and a 200 day moving average price of $1.85. Soligenix has a 1 year low of $1.09 and a 1 year high of $6.23. The stock has a market cap of $11.70 million, a price-to-earnings ratio of -0.32 and a beta of 2.01.

Soligenix (NASDAQ:SNGX) last posted its quarterly earnings results on Friday, November 7th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.05. As a group, sell-side analysts forecast that Soligenix will post -4.65 earnings per share for the current fiscal year.

About Soligenix

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.