Siga Technologies (NASDAQ:SIGA) Shares Up 2.6% – Here’s Why

Siga Technologies Inc. (NASDAQ:SIGA)’s share price traded up 2.6% during mid-day trading on Monday . The company traded as high as $3.16 and last traded at $3.14. 889,197 shares were traded during trading, an increase of 35% from the average session volume of 659,892 shares. The stock had previously closed at $3.06.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Siga Technologies from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Siga Technologies currently has a consensus rating of “Sell”.

Siga Technologies Stock Down 1.5%

The stock has a 50 day simple moving average of $3.33 and a 200 day simple moving average of $4.44. The stock has a market cap of $229.27 million, a price-to-earnings ratio of -63.80 and a beta of 0.97.

Siga Technologies (NASDAQ:SIGA) last issued its earnings results on Thursday, August 6th. The company reported $0.17 earnings per share for the quarter. Siga Technologies had a negative return on equity of 1.55% and a negative net margin of 5.19%.The company had revenue of $41.00 million for the quarter.

Hedge Funds Weigh In On Siga Technologies

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in Siga Technologies by 34.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,661 shares of the company’s stock worth $30,000 after purchasing an additional 1,184 shares in the last quarter. Denali Advisors LLC raised its holdings in shares of Siga Technologies by 0.4% in the fourth quarter. Denali Advisors LLC now owns 361,800 shares of the company’s stock valued at $2,211,000 after purchasing an additional 1,500 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in Siga Technologies by 5.5% during the second quarter. Cresset Asset Management LLC now owns 30,097 shares of the company’s stock worth $196,000 after purchasing an additional 1,567 shares during the last quarter. Deutsche Bank AG grew its position in Siga Technologies by 5.4% in the 4th quarter. Deutsche Bank AG now owns 31,512 shares of the company’s stock worth $193,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Siga Technologies by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 362,961 shares of the company’s stock worth $2,367,000 after purchasing an additional 1,991 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

Siga Technologies Company Profile

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.