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

Soligenix, Inc. (NASDAQ:SNGX) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 44,400 shares, an increase of 21.0% from the November 30th total of 36,700 shares. Based on an average daily volume of 105,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Soligenix

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

Soligenix Stock Performance

Shares of NASDAQ SNGX remained flat at $2.89 during mid-day trading on Friday. 36,563 shares of the stock were exchanged, compared to its average volume of 38,331. Soligenix has a 12-month low of $1.83 and a 12-month high of $19.20. The stock’s 50 day moving average price is $3.40 and its 200-day moving average price is $3.81.

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.