Siga Technologies (NASDAQ:SIGA) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Siga Technologies Inc. (NASDAQ:SIGA)’s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $3.18 and traded as high as $3.24. Siga Technologies shares last traded at $3.20, with a volume of 409,254 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Siga Technologies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Sell”.

Siga Technologies Trading Up 1.6%

The firm has a market cap of $229.92 million, a price-to-earnings ratio of -64.00 and a beta of 1.04. The stock has a 50-day moving average of $3.18 and a two-hundred day moving average of $4.45.

Siga Technologies (NASDAQ:SIGA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.17 earnings per share for the quarter. The company had revenue of $41.00 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SIGA. Seven Mile Advisory purchased a new position in shares of Siga Technologies in the third quarter worth approximately $34,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Siga Technologies in the 2nd quarter valued at approximately $52,000. State of Wyoming purchased a new stake in shares of Siga Technologies in the 2nd quarter valued at approximately $56,000. Hsbc Holdings PLC purchased a new stake in shares of Siga Technologies in the 2nd quarter valued at approximately $62,000. Finally, Williams & Novak Wealth Management LLC acquired a new position in Siga Technologies in the 3rd quarter worth approximately $61,000. 55.40% of the stock is currently owned by institutional investors and hedge funds.

About Siga Technologies

SIGA Technologies, Inc is a commercial-stage pharmaceutical company focused on developing and supplying medical countermeasures for high-consequence infectious diseases. Its primary product is TPOXX (tecovirimat), an antiviral medicine developed to treat smallpox. TPOXX targets orthopoxviruses, the virus family that includes variola virus, which causes smallpox, as well as mpox and other related infections.

TPOXX has been approved by the U.S. Food and Drug Administration in oral and intravenous formulations for the treatment of smallpox.