Short Interest in Soligenix, Inc. (NASDAQ:SNGX) Decreases By 31.4%

Soligenix, Inc. (NASDAQ:SNGX) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 69,100 shares, a drop of 31.4% from the February 28th total of 100,700 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 214,100 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Soligenix

An institutional investor recently raised its position in Soligenix stock. Geode Capital Management LLC increased its stake in shares of Soligenix, Inc. (NASDAQ:SNGX) by 42.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,094 shares of the biopharmaceutical company’s stock after buying an additional 7,729 shares during the quarter. Geode Capital Management LLC owned 1.04% of Soligenix worth $71,000 at the end of the most recent reporting period. 3.60% of the stock is owned by institutional investors and hedge funds.

Soligenix Price Performance

Shares of NASDAQ SNGX traded down $0.06 during trading hours on Friday, reaching $2.21. The stock had a trading volume of 61,177 shares, compared to its average volume of 787,954. The company has a market cap of $5.55 million, a price-to-earnings ratio of -0.29 and a beta of 2.03. Soligenix has a twelve month low of $1.83 and a twelve month high of $14.92. The business’s fifty day moving average is $2.34 and its two-hundred day moving average is $3.06.

Soligenix (NASDAQ:SNGX) last announced its quarterly earnings data on Friday, March 21st. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.19). Soligenix had a negative net margin of 1,473.38% and a negative return on equity of 223.29%. The business had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the prior year, the company posted ($12.66) EPS. Sell-side analysts forecast that Soligenix will post -4.65 earnings per share for the current fiscal year.

Soligenix Company Profile

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.