Short Interest in Soligenix, Inc. (NASDAQ:SNGX) Declines By 80.9%

Soligenix, Inc. (NASDAQ:SNGX) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 67,700 shares, a decline of 80.9% from the February 29th total of 354,500 shares. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.7% of the company’s stock are sold short.

Soligenix Price Performance

NASDAQ:SNGX traded down $0.01 during trading hours on Thursday, hitting $0.59. 55,832 shares of the company’s stock traded hands, compared to its average volume of 1,232,320. Soligenix has a twelve month low of $0.38 and a twelve month high of $4.20. The company has a quick ratio of 1.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average price is $0.68 and its two-hundred day moving average price is $0.61.

Soligenix (NASDAQ:SNGX) last posted its earnings results on Friday, March 15th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. Soligenix had a negative return on equity of 251.07% and a negative net margin of 731.94%. The company had revenue of $0.25 million for the quarter, compared to analyst estimates of $0.20 million. On average, sell-side analysts forecast that Soligenix will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Soligenix by 90.0% in the fourth quarter. Vanguard Group Inc. now owns 50,865 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 24,100 shares in the last quarter. Renaissance Technologies LLC increased its position in Soligenix by 45.5% in the second quarter. Renaissance Technologies LLC now owns 52,800 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 16,500 shares during the period. State Street Corp boosted its holdings in Soligenix by 54.0% during the second quarter. State Street Corp now owns 72,964 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 25,594 shares during the last quarter. Finally, Anson Funds Management LP bought a new stake in shares of Soligenix in the 2nd quarter valued at $362,000. 3.60% of the stock is owned by institutional investors.

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; and 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.