Soligenix, Inc. (NASDAQ:SNGX) Short Interest Down 31.4% in March

Soligenix, Inc. (NASDAQ:SNGX) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 69,100 shares, a drop of 31.4% from the February 28th total of 100,700 shares. Based on an average daily volume of 214,100 shares, the short-interest ratio is currently 0.3 days. Approximately 2.2% of the company’s stock are sold short.

Institutional Investors Weigh In On Soligenix

A hedge fund recently raised its stake in Soligenix stock. Geode Capital Management LLC raised its holdings in shares of Soligenix, Inc. (NASDAQ:SNGX) by 42.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,094 shares of the biopharmaceutical company’s stock after purchasing an additional 7,729 shares during the period. Geode Capital Management LLC owned approximately 1.04% of Soligenix worth $71,000 at the end of the most recent quarter. 3.60% of the stock is currently owned by institutional investors and hedge funds.

Soligenix Stock Performance

Shares of SNGX traded down $0.05 during mid-day trading on Monday, reaching $2.16. The company had a trading volume of 7,089 shares, compared to its average volume of 784,845. Soligenix has a 52 week low of $1.83 and a 52 week high of $14.92. The company has a market capitalization of $5.42 million, a price-to-earnings ratio of -0.29 and a beta of 2.03. The firm has a 50-day moving average price of $2.34 and a 200 day moving average price of $3.06.

Soligenix (NASDAQ:SNGX) last released its earnings results on Friday, March 21st. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.19). The company had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.20 million. Soligenix had a negative return on equity of 223.29% and a negative net margin of 1,473.38%. During the same period in the prior year, the company posted ($12.66) earnings per share. As a group, research analysts forecast that Soligenix will post -4.65 earnings per share for the current fiscal year.

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.