Siga Technologies (NASDAQ:SIGA) Shares Up 2.6% - Should You Buy?

Key Points

• Siga Technologies shares rose 2.6% to $3.14 in Monday trading, with volume about 35% above its average.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock to “sell (d),” and the sole analyst covering Siga rates it “Sell.”
• The company reported quarterly EPS of $0.17 on $41 million in revenue, while profitability remained weak with a negative net margin and return on equity.

Siga Technologies Inc. (NASDAQ:SIGA - Get Free Report)'s share price shot up 2.6% during trading on Monday . The company traded as high as $3.16 and last traded at $3.14. Approximately 889,197 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 659,892 shares. The stock had previously closed at $3.06.

Analyst Ratings Changes

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

Siga Technologies Price Performance

The stock has a fifty day moving average price of $3.35 and a two-hundred day moving average price of $4.46. The company has a market cap of $225.61 million, a P/E ratio of -62.80 and a beta of 0.97.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $41.00 million during the quarter. Siga Technologies had a negative return on equity of 1.55% and a negative net margin of 5.19%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in Siga Technologies by 138.4% in the first quarter. Jane Street Group LLC now owns 114,147 shares of the company's stock worth $626,000 after purchasing an additional 66,265 shares during the period. Strs Ohio bought a new stake in shares of Siga Technologies during the 1st quarter worth about $165,000. Russell Investments Group Ltd. raised its position in shares of Siga Technologies by 57.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 15,637 shares of the company's stock worth $102,000 after buying an additional 5,712 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Siga Technologies by 5.5% in the 2nd quarter. First Trust Advisors LP now owns 150,913 shares of the company's stock worth $984,000 after acquiring an additional 7,828 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Siga Technologies in the 2nd quarter worth approximately $320,000. 55.40% of the stock is owned by institutional investors and hedge funds.

Siga Technologies Company Profile

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.

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