Soligenix, Inc. (NASDAQ:SNGX) Sees Large Decline in Short Interest

Soligenix, Inc. (NASDAQ:SNGX) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 121,000 shares, a drop of 65.1% from the January 15th total of 346,600 shares. Based on an average daily volume of 221,700 shares, the short-interest ratio is currently 0.5 days. Approximately 4.8% of the company’s stock are sold short.

Soligenix Stock Performance

Shares of SNGX traded up $0.03 during mid-day trading on Wednesday, reaching $2.33. The company had a trading volume of 4,305 shares, compared to its average volume of 454,781. The company has a market capitalization of $5.85 million, a price-to-earnings ratio of -0.30 and a beta of 1.83. The firm has a 50-day moving average price of $2.80 and a 200 day moving average price of $3.40. Soligenix has a 52 week low of $1.83 and a 52 week high of $14.92.

Hedge Funds Weigh In On Soligenix

An institutional investor recently bought a new position in Soligenix stock. Stephens Inc. AR purchased a new stake in shares of Soligenix, Inc. (NASDAQ:SNGX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 46,262 shares of the biopharmaceutical company’s stock, valued at approximately $184,000. Stephens Inc. AR owned about 4.69% of Soligenix as of its most recent SEC filing. Hedge funds and other institutional investors own 3.60% of the company’s stock.

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.