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

Soligenix, Inc. (NASDAQ:SNGX) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 36,700 shares, a decline of 20.2% from the November 15th total of 46,000 shares. Based on an average daily trading volume, of 113,000 shares, the short-interest ratio is presently 0.3 days. Approximately 1.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Soligenix

A hedge fund recently bought a new stake in Soligenix stock. Armistice Capital LLC purchased a new position in shares of Soligenix, Inc. (NASDAQ:SNGX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.60% of the company’s stock.

Soligenix Stock Performance

NASDAQ:SNGX traded down $0.15 during mid-day trading on Friday, hitting $3.16. 31,879 shares of the company’s stock traded hands, compared to its average volume of 777,573. The company has a market cap of $7.93 million, a PE ratio of -0.42 and a beta of 1.79. The firm’s 50 day simple moving average is $3.57 and its 200 day simple moving average is $3.94. Soligenix has a 1 year low of $1.83 and a 1 year high of $19.20.

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.