Siga Technologies Sees Unusually High Options Volume (NASDAQ:SIGA)

Siga Technologies Inc. (NASDAQ:SIGA) saw some unusual options trading on Wednesday. Stock investors purchased 1,200 call options on the stock. This represents an increase of approximately 1,438% compared to the typical daily volume of 78 call options.

Institutional Trading of Siga Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC increased its stake in shares of Siga Technologies by 138.4% in the first quarter. Jane Street Group LLC now owns 114,147 shares of the company’s stock valued at $626,000 after buying an additional 66,265 shares during the period. Strs Ohio acquired a new stake in Siga Technologies during the 1st quarter worth approximately $165,000. Campbell & CO Investment Adviser LLC grew its holdings in Siga Technologies by 413.6% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 198,413 shares of the company’s stock worth $1,294,000 after acquiring an additional 159,779 shares during the last quarter. CSM Advisors LLC acquired a new position in Siga Technologies in the 2nd quarter valued at approximately $2,335,000. Finally, Bailard Inc. acquired a new position in Siga Technologies in the 2nd quarter valued at approximately $78,000. 55.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SIGA. Wall Street Zen downgraded Siga Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings cut shares of Siga Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Siga Technologies Stock Up 2.4%

NASDAQ SIGA opened at $6.37 on Thursday. The company has a market cap of $456.16 million, a price-to-earnings ratio of 6.25 and a beta of 0.97. Siga Technologies has a twelve month low of $4.95 and a twelve month high of $9.62. The business’s fifty day moving average is $6.60 and its 200 day moving average is $7.32.

About Siga Technologies

Siga Technologies, Inc (NASDAQ: SIGA) is a specialty pharmaceutical company focused on the development, manufacturing and commercialization of medical countermeasures for public health emergencies and biological threats. The company’s flagship product, TPOXX® (tecovirimat), is the first and only antiviral approved by the U.S. Food and Drug Administration for the treatment of smallpox. Siga has entered into procurement and development contracts with U.S. government agencies, including the Biomedical Advanced Research and Development Authority (BARDA) and the Department of Defense, to supply TPOXX® for the Strategic National Stockpile.

Founded in 2002, Siga has built a pipeline of therapies targeting high-consequence pathogens such as smallpox, plague and other potential biothreat agents.