Soligenix (NASDAQ:SNGX) Stock Price Crosses Above 200 Day Moving Average of $0.88

Soligenix, Inc. (NASDAQ:SNGX)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.88 and traded as high as $1.05. Soligenix shares last traded at $1.05, with a volume of 804 shares trading hands.

Several research firms have weighed in on SNGX. Maxim Group reiterated a “buy” rating and issued a $4.00 target price on shares of Soligenix in a report on Thursday, May 16th. ValuEngine upgraded shares of Soligenix from a “sell” rating to a “hold” rating in a report on Thursday, July 18th.

The firm’s fifty day moving average price is $1.07 and its 200 day moving average price is $0.88. 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 stock has a market capitalization of $21.11 million, a price-to-earnings ratio of -1.54 and a beta of 1.16.

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, topping the Zacks’ consensus estimate of ($0.14) by $0.02. The company had revenue of $1.50 million for the quarter, compared to analyst estimates of $1.40 million. Soligenix had a negative net margin of 173.58% and a negative return on equity of 142.37%. On average, analysts forecast that Soligenix, Inc. will post -0.47 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Soligenix stock. Vanguard Group Inc. boosted its holdings in shares of Soligenix, Inc. (NASDAQ:SNGX) by 23.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 412,158 shares of the biopharmaceutical company’s stock after buying an additional 76,955 shares during the quarter. Vanguard Group Inc. owned 2.10% of Soligenix worth $293,000 as of its most recent SEC filing. 8.50% of the stock is owned by 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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