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

Soligenix, Inc. (NASDAQ:SNGX) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 381,400 shares, an increase of 1,836.0% from the June 30th total of 19,700 shares. Currently, 38.7% of the shares of the company are sold short. Based on an average trading volume of 2,490,000 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Soligenix

A hedge fund recently bought a new stake in Soligenix stock. OLD National Bancorp IN bought a new position in shares of Soligenix, Inc. (NASDAQ:SNGX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the biopharmaceutical company’s stock, valued at approximately $26,000. OLD National Bancorp IN owned approximately 1.01% of Soligenix at the end of the most recent quarter. Institutional investors own 3.60% of the company’s stock.

Soligenix Price Performance

SNGX traded up $0.08 during midday trading on Friday, reaching $4.53. 209,585 shares of the company’s stock were exchanged, compared to its average volume of 1,236,568. The stock has a market capitalization of $4.48 million, a PE ratio of -0.39 and a beta of 1.88. The business’s 50-day moving average price is $4.68 and its 200 day moving average price is $7.80. Soligenix has a 1-year low of $1.83 and a 1-year high of $32.00.

Soligenix (NASDAQ:SNGX) last posted its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($2.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.20) by $0.32. The business had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.20 million. Soligenix had a negative net margin of 1,025.66% and a negative return on equity of 198.36%. As a group, analysts expect that Soligenix will post -9.2 EPS 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.