Soligenix (NASDAQ:SNGX) Stock Crosses Above 200 Day Moving Average – Here’s Why

Soligenix Inc. (NASDAQ:SNGX)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.34 and traded as high as $1.39. Soligenix shares last traded at $1.39, with a volume of 63,724 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Soligenix in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.00.

Soligenix Stock Up 1.5%

The company’s 50 day moving average price is $1.19 and its 200-day moving average price is $1.34. The stock has a market cap of $14.33 million, a P/E ratio of -0.39 and a beta of 1.93.

Hedge Funds Weigh In On Soligenix

Several large investors have recently modified their holdings of SNGX. Banco BTG Pactual S.A. bought a new position in shares of Soligenix during the third quarter valued at $54,000. Sabby Management LLC bought a new position in shares of Soligenix during the third quarter valued at $94,000. Two Sigma Investments LP bought a new position in shares of Soligenix during the third quarter valued at $102,000. Virtu Financial LLC acquired a new stake in shares of Soligenix during the third quarter worth $59,000. Finally, Armistice Capital LLC acquired a new stake in shares of Soligenix during the third quarter worth $821,000. Institutional investors own 3.60% of the company’s stock.

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.