Siga Technologies Inc. $SIGA Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 427,275 SIGA shares during the second quarter, valued at approximately $1.56 million and representing about 0.59% of the company.
• Other institutional investors also increased their positions, including BlackRock, Dimensional Fund Advisors, Arrowstreet Capital, First Wilshire Securities Management, and Renaissance Technologies. Institutions and hedge funds collectively own 55.4% of SIGA.
• SIGA shares opened at $3.35, well below their 52-week high of $9.25. MarketBeat reports an average analyst rating of “Sell,” while the company recently posted $41 million in quarterly revenue and $0.17 in EPS.

Bank of America Corp DE bought a new position in shares of Siga Technologies Inc. (NASDAQ:SIGA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 427,275 shares of the company's stock, valued at approximately $1,555,000. Bank of America Corp DE owned approximately 0.59% of Siga Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Siga Technologies during the second quarter worth approximately $15,238,000. Dimensional Fund Advisors LP raised its holdings in Siga Technologies by 6.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,702,724 shares of the company's stock valued at $14,459,000 after acquiring an additional 165,930 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Siga Technologies by 48.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,525,960 shares of the company's stock valued at $8,164,000 after acquiring an additional 500,880 shares in the last quarter. First Wilshire Securities Management Inc. lifted its position in shares of Siga Technologies by 30.2% during the 1st quarter. First Wilshire Securities Management Inc. now owns 890,498 shares of the company's stock valued at $4,764,000 after acquiring an additional 206,445 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Siga Technologies by 25.6% during the 1st quarter. Renaissance Technologies LLC now owns 475,013 shares of the company's stock valued at $2,541,000 after acquiring an additional 96,913 shares during the period. Institutional investors and hedge funds own 55.40% of the company's stock.

Siga Technologies Stock Performance

Shares of SIGA opened at $3.35 on Friday. Siga Technologies Inc. has a 52-week low of $2.83 and a 52-week high of $9.25. The business's fifty day moving average is $3.14 and its 200-day moving average is $3.95. The firm has a market cap of $240.70 million, a price-to-earnings ratio of -67.00 and a beta of 1.04.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.17 EPS 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 during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Siga Technologies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Siga Technologies has an average rating of "Sell".

Siga Technologies Profile

SIGA Technologies, Inc is a commercial-stage pharmaceutical company focused on developing and supplying medical countermeasures for biological threats and emerging infectious diseases. The company's principal product is TPOXX (tecovirimat), an antiviral treatment developed for smallpox. TPOXX is available in oral and intravenous formulations, with regulatory approvals supporting its use in the United States and certain international markets.

SIGA primarily serves government agencies, including the U.S.

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