Soligenix (NASDAQ:SNGX) Shares Gap Up to $1.61

Soligenix, Inc. (NASDAQ:SNGX)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $1.61, but opened at $1.82. Soligenix shares last traded at $1.73, with a volume of 615,471 shares.

Several equities analysts recently commented on the stock. B. Riley reaffirmed a “hold” rating and set a $2.00 target price on shares of Soligenix in a report on Thursday, January 28th. Alliance Global Partners reduced their target price on shares of Soligenix from $7.25 to $5.75 and set a “buy” rating on the stock in a report on Wednesday, December 23rd.

The firm has a market cap of $48.17 million, a PE ratio of -2.47 and a beta of 1.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.30 and a current ratio of 2.30. The company’s 50-day simple moving average is $1.73 and its two-hundred day simple moving average is $1.83.

A number of institutional investors and hedge funds have recently made changes to their positions in SNGX. GSA Capital Partners LLP boosted its position in Soligenix by 1,086.1% during the 3rd quarter. GSA Capital Partners LLP now owns 135,782 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 124,334 shares during the period. First Wilshire Securities Management Inc. lifted its position in shares of Soligenix by 40.0% in the 4th quarter. First Wilshire Securities Management Inc. now owns 350,000 shares of the biopharmaceutical company’s stock worth $448,000 after purchasing an additional 100,000 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Soligenix in the 3rd quarter worth about $129,000. Bank of New York Mellon Corp purchased a new stake in shares of Soligenix in the 4th quarter worth about $36,000. Finally, BlackRock Inc. lifted its position in shares of Soligenix by 22.8% in the 4th quarter. BlackRock Inc. now owns 95,520 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 17,726 shares during the period. 9.39% of the stock is owned by institutional investors and hedge funds.

About Soligenix (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, Specialized BioTherapeutics and Public Health Solutions. The Specialized BioTherapeutics segment develops SGX301, a novel photodynamic therapy, which has completed Phase 3 clinical trial to treat cutaneous T-cell lymphoma; and SGX942, an innate defense regulator technology that is in Phase 3 clinical trial to treat oral mucositis in head and neck cancer.

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