Maxim Group started coverage on shares of Soligenix (NASDAQ:SNGX) in a report published on Thursday morning, TipRanks reports. The brokerage issued a buy rating and a $4.00 price objective on the biopharmaceutical company’s stock.
Separately, ValuEngine upgraded shares of Soligenix from a sell rating to a hold rating in a research note on Thursday, April 2nd.
Soligenix has a 1 year low of $0.70 and a 1 year high of $3.54. The stock’s 50-day simple moving average is $1.86 and its 200-day simple moving average is $1.95.
Several hedge funds have recently added to or reduced their stakes in SNGX. FNY Investment Advisers LLC purchased a new stake in shares of Soligenix during the first quarter worth approximately $184,000. First Wilshire Securities Management Inc. purchased a new stake in shares of Soligenix during the first quarter worth approximately $168,000. Renaissance Technologies LLC increased its stake in shares of Soligenix by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 311,191 shares of the biopharmaceutical company’s stock worth $451,000 after buying an additional 41,500 shares during the period. S&T Bank PA purchased a new stake in shares of Soligenix during the first quarter worth approximately $64,000. Finally, WMS Partners LLC purchased a new stake in shares of Soligenix during the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 10.51% of the company’s stock.
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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