Charles Schwab Investment Management Inc. Reduces Position in Siga Technologies Inc. $SIGA

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Siga Technologies Inc. by 21.9%, selling 101,404 shares and owning 360,784 shares at the end of the 1st quarter.
• Several other institutional investors also adjusted their positions, with Dimensional Fund Advisors LP increasing its holdings by 11.4% in the fourth quarter.
• Wall Street Zen upgraded Siga Technologies' stock rating from hold to strong-buy on August 9th.

Charles Schwab Investment Management Inc. decreased its position in shares of Siga Technologies Inc. (NASDAQ:SIGA - Free Report) by 21.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 360,784 shares of the company's stock after selling 101,404 shares during the period. Charles Schwab Investment Management Inc. owned 0.51% of Siga Technologies worth $1,977,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Corton Capital Inc. purchased a new stake in Siga Technologies during the first quarter valued at approximately $58,000. Denali Advisors LLC increased its stake in shares of Siga Technologies by 3.2% in the first quarter. Denali Advisors LLC now owns 390,530 shares of the company's stock worth $2,140,000 after acquiring an additional 11,986 shares during the period. Foundry Partners LLC increased its stake in shares of Siga Technologies by 1.4% in the first quarter. Foundry Partners LLC now owns 447,783 shares of the company's stock worth $2,454,000 after acquiring an additional 6,054 shares during the period. Cerity Partners LLC acquired a new stake in shares of Siga Technologies in the first quarter worth $119,000. Finally, Significant Wealth Partners LLC grew its position in Siga Technologies by 21.4% during the first quarter. Significant Wealth Partners LLC now owns 34,269 shares of the company's stock valued at $188,000 after buying an additional 6,052 shares during the period. Hedge funds and other institutional investors own 55.40% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Siga Technologies from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th.

Siga Technologies Stock Performance

Shares of Siga Technologies stock traded down $0.14 on Thursday, reaching $8.48. The company had a trading volume of 222,874 shares, compared to its average volume of 477,118. The firm's 50 day moving average price is $7.55 and its two-hundred day moving average price is $6.46. The firm has a market cap of $606.86 million, a PE ratio of 7.50 and a beta of 0.95. Siga Technologies Inc. has a 52-week low of $4.95 and a 52-week high of $9.62.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.49 earnings per share (EPS) for the quarter. The business had revenue of $81.12 million for the quarter. Siga Technologies had a net margin of 45.73% and a return on equity of 40.52%. As a group, sell-side analysts predict that Siga Technologies Inc. will post 1.04 EPS for the current year.

About Siga Technologies

SIGA Technologies, Inc, a commercial-stage pharmaceutical company, focuses on the health security related markets in the United States. Its lead product is TPOXX, an oral formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. The company was incorporated in 1995 and is headquartered in New York, New York.