Soligenix, Inc. (NASDAQ:SNGX) Sees Significant Growth in Short Interest

by · The Markets Daily

Soligenix, Inc. (NASDAQ:SNGX – Get Free Report) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 127,800 shares, a growth of 23.8% from the September 15th total of 103,200 shares. Based on an average daily trading volume, of 497,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 5.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Soligenix stock. Armistice Capital LLC purchased a new stake in Soligenix, Inc. (NASDAQ:SNGX – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 80,000 shares of the biopharmaceutical company’s stock, valued at approximately $206,000. Armistice Capital LLC owned about 8.11% of Soligenix as of its most recent SEC filing. Institutional investors and hedge funds own 3.60% of the company’s stock.

Soligenix Stock Up 2.3 %

NASDAQ SNGX traded up $0.08 during mid-day trading on Tuesday, hitting $3.60. The stock had a trading volume of 46,955 shares, compared to its average volume of 931,124. The company has a market cap of $3.55 million, a price-to-earnings ratio of -0.31 and a beta of 1.84. Soligenix has a 52-week low of $1.83 and a 52-week high of $32.00. The company has a 50 day simple moving average of $3.79 and a 200 day simple moving average of $4.92.

Soligenix (NASDAQ:SNGX – Get Free Report) last posted its earnings results on Friday, August 9th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.11) by $0.80. Soligenix had a negative return on equity of 256.12% and a negative net margin of 1,473.38%. As a group, equities analysts anticipate that Soligenix will post -5.1 earnings per share for the current fiscal year.

Soligenix Company Profile

(Get Free Report)

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.

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