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

Soligenix, Inc. (NASDAQ:SNGX) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 36,700 shares, a decline of 20.2% from the November 15th total of 46,000 shares. Based on an average daily volume of 113,000 shares, the short-interest ratio is presently 0.3 days. Currently, 1.5% of the company’s shares are sold short.

Hedge Funds Weigh In On Soligenix

An institutional investor recently bought a new position in Soligenix stock. Armistice Capital LLC acquired a new stake in Soligenix, Inc. (NASDAQ:SNGX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,000 shares of the biopharmaceutical company’s stock, valued at approximately $206,000. Armistice Capital LLC owned 8.11% of Soligenix as of its most recent SEC filing. Institutional investors own 3.60% of the company’s stock.

Soligenix Stock Performance

Shares of Soligenix stock traded down $0.09 on Monday, hitting $3.07. The stock had a trading volume of 106,943 shares, compared to its average volume of 774,801. The stock has a 50 day moving average of $3.57 and a 200 day moving average of $3.91. The firm has a market capitalization of $7.71 million, a P/E ratio of -0.42 and a beta of 1.79. Soligenix has a twelve month low of $1.83 and a twelve month high of $19.20.

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.