Soligenix (NASDAQ:SNGX) Shares Up 8.8%

Soligenix, Inc. (NASDAQ:SNGX) shot up 8.8% during mid-day trading on Thursday . The stock traded as high as $1.00 and last traded at $0.99, 383,104 shares changed hands during mid-day trading. An increase of 153% from the average session volume of 151,660 shares. The stock had previously closed at $0.91.

Several research firms recently issued reports on SNGX. ValuEngine raised Soligenix from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Maxim Group reissued a “buy” rating and issued a $4.00 target price on shares of Soligenix in a research report on Thursday, August 29th.

The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $0.99 and a 200-day moving average of $0.89. The stock has a market capitalization of $18.68 million, a price-to-earnings ratio of -1.40 and a beta of 1.23.

Soligenix (NASDAQ:SNGX) last released its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $1.50 million for the quarter, compared to the consensus estimate of $1.40 million. Soligenix had a negative return on equity of 142.37% and a negative net margin of 173.58%. On average, equities research analysts anticipate that Soligenix, Inc. will post -0.45 EPS for the current year.

An institutional investor recently raised its position in Soligenix stock. Vanguard Group Inc. boosted its stake in shares of Soligenix, Inc. (NASDAQ:SNGX) by 23.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 412,158 shares of the biopharmaceutical company’s stock after purchasing an additional 76,955 shares during the period. Vanguard Group Inc. owned approximately 2.10% of Soligenix worth $293,000 at the end of the most recent quarter. 8.41% of the stock is currently owned by hedge funds and other institutional investors.

Soligenix Company Profile (NASDAQ:SNGX)

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. It operates in two segments, BioTherapeutics and Vaccines/BioDefense. The BioTherapeutics segment develops SGX301, a photodynamic therapy, which is in Phase III clinical trial to treat cutaneous T-cell lymphoma; and SGX942, an innate defense regulator technology that has completed Phase II clinical trial to treat oral mucositis in head and neck cancer.

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