Soligenix, Inc. (NASDAQ:SNGX) Sees Large Drop 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 15th, there was short interest totalling 14,600 shares, a drop of 67.1% from the December 31st total of 44,400 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 53,700 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Soligenix

A hedge fund recently bought a new stake in Soligenix stock. Stephens Inc. AR bought a new stake in shares of Soligenix, Inc. (NASDAQ:SNGX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 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 filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 3.60% of the company’s stock.

Soligenix Trading Down 2.4 %

Shares of NASDAQ:SNGX traded down $0.06 on Tuesday, reaching $2.43. 28,496 shares of the company traded hands, compared to its average volume of 728,717. The business’s 50-day simple moving average is $3.03 and its 200 day simple moving average is $3.68. Soligenix has a 52 week low of $1.83 and a 52 week high of $14.92. The stock has a market capitalization of $6.10 million, a P/E ratio of -0.32 and a beta of 1.77.

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.