Goldman Sachs Group Inc. Trims Stake in Siga Technologies Inc. $SIGA

Key Points

• Goldman Sachs Group Inc. reduced its stake in Siga Technologies by 17.1%, selling 58,397 shares in the first quarter, and now owns approximately 0.40% of the company.
• Other institutional investors, like Hotchkis & Wiley Capital Management LLC, increased their holdings significantly, with a 52.9% boost in their stake for the same period.
• Wall Street Zen upgraded Siga Technologies' stock rating from "hold" to "strong buy", indicating positive expectations for the company's future performance.

Goldman Sachs Group Inc. lowered its stake in shares of Siga Technologies Inc. (NASDAQ:SIGA - Free Report) by 17.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,196 shares of the company's stock after selling 58,397 shares during the quarter. Goldman Sachs Group Inc. owned about 0.40% of Siga Technologies worth $1,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in Siga Technologies by 6,344.8% in the first quarter. Russell Investments Group Ltd. now owns 9,925 shares of the company's stock valued at $54,000 after buying an additional 9,771 shares during the last quarter. Corton Capital Inc. purchased a new stake in Siga Technologies in the first quarter valued at about $58,000. ProShare Advisors LLC raised its stake in Siga Technologies by 26.6% in the fourth quarter. ProShare Advisors LLC now owns 16,424 shares of the company's stock valued at $99,000 after buying an additional 3,455 shares during the last quarter. EP Wealth Advisors LLC raised its stake in Siga Technologies by 44.1% in the first quarter. EP Wealth Advisors LLC now owns 20,018 shares of the company's stock valued at $110,000 after buying an additional 6,131 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Siga Technologies in the first quarter valued at about $119,000. Institutional investors own 55.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Siga Technologies Stock Down 2.0%

Shares of NASDAQ:SIGA traded down $0.19 during trading on Tuesday, hitting $9.19. The stock had a trading volume of 61,084 shares, compared to its average volume of 480,420. Siga Technologies Inc. has a 12-month low of $4.95 and a 12-month high of $9.62. The stock has a market capitalization of $657.74 million, a price-to-earnings ratio of 8.14 and a beta of 0.94. The stock has a 50-day simple moving average of $8.10 and a two-hundred day simple moving average of $6.75.

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

Siga Technologies Profile

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.