Soligenix, Inc. (NASDAQ:SNGX) Sees Significant Decrease in Short Interest

Soligenix, Inc. (NASDAQ:SNGX) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 106,400 shares, a drop of 12.1% from the January 31st total of 121,000 shares. Based on an average daily volume of 220,800 shares, the days-to-cover ratio is presently 0.5 days. Currently, 4.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Soligenix

An institutional investor recently raised its position in Soligenix stock. Geode Capital Management LLC increased its stake in Soligenix, Inc. (NASDAQ:SNGX) by 42.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 3.60% of the company’s stock.

Soligenix Stock Performance

Shares of SNGX opened at $2.23 on Thursday. The firm has a market capitalization of $5.60 million, a PE ratio of -0.30 and a beta of 1.83. The stock has a 50 day simple moving average of $2.56 and a 200 day simple moving average of $3.26. Soligenix has a 52-week low of $1.83 and a 52-week high of $14.92.

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.