Soligenix, Inc. (NASDAQ:SNGX) Short Interest Down 43.4% in May

Soligenix, Inc. (NASDAQ:SNGX) was the recipient of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 40,100 shares, a decline of 43.4% from the May 15th total of 70,800 shares. Based on an average trading volume of 79,000 shares, the short-interest ratio is presently 0.5 days. Currently, 1.2% of the shares of the company are short sold.

Soligenix Price Performance

Shares of NASDAQ:SNGX traded up $0.02 during midday trading on Monday, hitting $1.82. The company had a trading volume of 24,842 shares, compared to its average volume of 163,877. The company has a market cap of $5.92 million, a price-to-earnings ratio of -0.24 and a beta of 1.97. The company has a fifty day moving average of $1.94 and a two-hundred day moving average of $2.36. Soligenix has a 12-month low of $1.68 and a 12-month high of $14.83.

Soligenix (NASDAQ:SNGX) last released its earnings results on Friday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.39). Soligenix had a negative return on equity of 223.29% and a negative net margin of 1,473.38%. Research analysts expect that Soligenix will post -4.65 earnings per share for the current fiscal year.

Hedge Funds 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 fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 1.04% of Soligenix worth $71,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.60% of the company’s stock.

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.