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

Soligenix, Inc. (NASDAQ:SNGX) saw a large drop in short interest in 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. Based on an average trading volume of 53,700 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.6% of the shares of the stock are short sold.

Institutional Trading of Soligenix

A hedge fund recently bought a new stake in Soligenix stock. Stephens Inc. AR bought a new stake in Soligenix, Inc. (NASDAQ:SNGX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 46,262 shares of the biopharmaceutical company’s stock, valued at approximately $184,000. Stephens Inc. AR owned approximately 4.69% of Soligenix as of its most recent SEC filing. 3.60% of the stock is owned by institutional investors and hedge funds.

Soligenix Stock Performance

Shares of NASDAQ:SNGX traded down $0.06 during midday trading on Tuesday, reaching $2.43. The company’s stock had a trading volume of 28,496 shares, compared to its average volume of 728,717. The firm has a market capitalization of $6.10 million, a price-to-earnings ratio of -0.32 and a beta of 1.77. The firm has a 50 day moving average price of $3.03 and a two-hundred day moving average price of $3.68. Soligenix has a fifty-two week low of $1.83 and a fifty-two week high of $14.92.

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.