Siga Technologies (NASDAQ:SIGA) Trading Down 3.5% – What’s Next?

Shares of Siga Technologies Inc. (NASDAQ:SIGA) traded down 3.5% during mid-day trading on Wednesday . The stock traded as low as $3.51 and last traded at $3.54. Approximately 588,616 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 562,953 shares. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Siga Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Siga Technologies Price Performance

The stock has a 50-day moving average price of $4.30 and a 200-day moving average price of $5.34. The company has a market capitalization of $257.47 million, a price-to-earnings ratio of 13.30 and a beta of 0.96.

Siga Technologies (NASDAQ:SIGA) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter. Siga Technologies had a net margin of 21.58% and a return on equity of 10.60%. The business had revenue of $6.24 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in Siga Technologies by 34.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,661 shares of the company’s stock worth $30,000 after buying an additional 1,184 shares during the last quarter. Denali Advisors LLC increased its holdings in shares of Siga Technologies by 0.4% during the fourth quarter. Denali Advisors LLC now owns 361,800 shares of the company’s stock valued at $2,211,000 after acquiring an additional 1,500 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of Siga Technologies by 5.5% in the second quarter. Cresset Asset Management LLC now owns 30,097 shares of the company’s stock worth $196,000 after buying an additional 1,567 shares in the last quarter. Deutsche Bank AG lifted 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 valued at $193,000 after acquiring an additional 1,602 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Siga Technologies by 0.6% during the second quarter. Federated Hermes Inc. now owns 362,961 shares of the company’s stock valued at $2,367,000 after purchasing an additional 1,991 shares in the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.