Siga Technologies (NASDAQ:SIGA) Stock Price Down 3.5% - What's Next?

Key Points

• Siga Technologies shares fell 3.5% in Wednesday trading, hitting an intraday low of $3.51 and closing near $3.54, with volume slightly above average.
• Sentiment remains weak after Weiss Ratings downgraded the stock from “hold” to “sell,” and MarketBeat data shows a consensus rating of “Sell.”
• The stock is trading below its 50-day moving average of $4.32 and 200-day moving average of $5.36, while the company recently reported a quarterly loss of $0.05 per share on $6.24 million in revenue.

Siga Technologies Inc. (NASDAQ:SIGA - Get Free Report)'s stock price traded down 3.5% during mid-day trading on Wednesday . The company traded as low as $3.51 and last traded at $3.54. 588,616 shares changed hands during trading, an increase of 5% from the average session volume of 562,953 shares. The stock had previously closed at $3.67.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Siga Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Siga Technologies has a consensus rating of "Sell".

Siga Technologies Stock Performance

The company's 50-day moving average price is $4.32 and its 200 day moving average price is $5.36. The stock has a market capitalization of $253.89 million, a PE ratio of 13.11 and a beta of 0.96.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter. Siga Technologies had a net margin of 21.58% and a return on equity of 10.60%. The company had revenue of $6.24 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Siga Technologies by 418.1% in the 4th quarter. Farther Finance Advisors LLC now owns 4,150 shares of the company's stock valued at $25,000 after purchasing an additional 3,349 shares during the period. BNP Paribas Financial Markets grew its stake in Siga Technologies by 34.1% in the second quarter. BNP Paribas Financial Markets now owns 4,661 shares of the company's stock worth $30,000 after purchasing an additional 1,184 shares during the period. CWM LLC grew its stake in Siga Technologies by 148.6% in the fourth quarter. CWM LLC now owns 5,027 shares of the company's stock worth $31,000 after purchasing an additional 3,005 shares during the period. Tower Research Capital LLC TRC raised its holdings in Siga Technologies by 116.6% in the second quarter. Tower Research Capital LLC TRC now owns 6,817 shares of the company's stock worth $44,000 after purchasing an additional 3,669 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Siga Technologies by 47.0% in the fourth quarter. Parallel Advisors LLC now owns 7,969 shares of the company's stock worth $49,000 after purchasing an additional 2,549 shares in the last quarter. Institutional investors own 55.40% of the company's stock.

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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