Siga Technologies (NASDAQ:SIGA) Trading 13.9% Higher - Here's Why

Key Points

• Siga Technologies Inc. shares increased by 13.9% on Wednesday, trading as high as $7.63 after previously closing at $6.60.
• The company reported $0.49 earnings per share and $81.12 million in revenue for the last quarter, with a net margin of 40.30%.
• Institutional investors currently hold 55.40% of Siga Technologies' stock, with significant increases in holdings by firms like Harbor Capital Advisors and Renaissance Technologies.

Siga Technologies Inc. (NASDAQ:SIGA - Get Free Report)'s share price traded up 13.9% on Wednesday . The stock traded as high as $7.63 and last traded at $7.52. 178,646 shares traded hands during trading, a decline of 60% from the average session volume of 447,124 shares. The stock had previously closed at $6.60.

Siga Technologies Stock Performance

The firm has a market capitalization of $525.44 million, a PE ratio of 11.02 and a beta of 0.94. The company's 50 day simple moving average is $6.54 and its 200-day simple moving average is $6.09.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.49 earnings per share for the quarter. The firm had revenue of $81.12 million for the quarter. Siga Technologies had a net margin of 40.30% and a return on equity of 25.21%. On average, equities research analysts forecast that Siga Technologies Inc. will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Siga Technologies

A number of large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its stake in Siga Technologies by 31.8% during the first quarter. Harbor Capital Advisors Inc. now owns 222,012 shares of the company's stock worth $1,217,000 after acquiring an additional 53,534 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Siga Technologies by 11.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,126,065 shares of the company's stock valued at $12,777,000 after purchasing an additional 217,926 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Siga Technologies by 237.7% during the fourth quarter. Renaissance Technologies LLC now owns 417,436 shares of the company's stock valued at $2,509,000 after purchasing an additional 293,836 shares during the last quarter. LSV Asset Management raised its holdings in shares of Siga Technologies by 52.3% during the fourth quarter. LSV Asset Management now owns 161,988 shares of the company's stock valued at $974,000 after purchasing an additional 55,600 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Siga Technologies during the fourth quarter valued at approximately $265,000. Institutional investors own 55.40% of the company's stock.

Siga Technologies Company 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.

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