Siga Technologies (NASDAQ:SIGA) Stock Price Breaks Above 50-Day Moving Average – Time to Sell?

Shares of Siga Technologies Inc. (NASDAQ:SIGA) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $3.19 and traded as high as $3.30. Siga Technologies shares last traded at $3.26, with a volume of 544,249 shares.

Analyst Ratings Changes

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

Siga Technologies Stock Up 5.2%

The business’s fifty day moving average is $3.19 and its 200-day moving average is $4.30. The stock has a market capitalization of $234.23 million, a PE ratio of -65.20 and a beta of 1.10.

Siga Technologies (NASDAQ:SIGA) last issued its earnings results on Monday, November 9th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $1.32 million during the quarter. Siga Technologies had a negative return on equity of 1.55% and a negative net margin of 5.19%.

Institutional Trading of Siga Technologies

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Siga Technologies in the second quarter valued at approximately $15,238,000. Dimensional Fund Advisors LP increased its stake in Siga Technologies by 6.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,702,724 shares of the company’s stock valued at $14,459,000 after purchasing an additional 165,930 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Siga Technologies by 48.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,525,960 shares of the company’s stock valued at $8,164,000 after purchasing an additional 500,880 shares during the last quarter. First Wilshire Securities Management Inc. raised its holdings in shares of Siga Technologies by 30.2% during the first quarter. First Wilshire Securities Management Inc. now owns 890,498 shares of the company’s stock worth $4,764,000 after purchasing an additional 206,445 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Siga Technologies by 25.6% during the first quarter. Renaissance Technologies LLC now owns 475,013 shares of the company’s stock worth $2,541,000 after purchasing an additional 96,913 shares during the period. 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.