Siga Technologies (NASDAQ:SIGA) Shares Down 4.9% - Time to Sell?

Key Points

• Siga Technologies' stock price fell by 4.9% to $8.84 on Wednesday, with trading volume down 31% from its average.
• The company was upgraded from a "hold" to a "strong-buy" rating by Wall Street Zen, indicating a more positive outlook for investors.
• Siga Technologies reported earnings of $0.49 EPS for the last quarter, with analysts forecasting 1.04 EPS for the current fiscal year.

Siga Technologies Inc. (NASDAQ:SIGA - Get Free Report) was down 4.9% during mid-day trading on Wednesday . The stock traded as low as $8.80 and last traded at $8.84. Approximately 323,850 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 470,933 shares. The stock had previously closed at $9.30.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Siga Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th.

Siga Technologies Trading Up 2.6%

The firm has a 50-day moving average of $6.96 and a 200-day moving average of $6.22. The stock has a market capitalization of $624.22 million, a price-to-earnings ratio of 7.73 and a beta of 0.94.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $81.12 million during the quarter. Siga Technologies had a net margin of 45.73% and a return on equity of 40.52%. On average, equities research analysts anticipate that Siga Technologies Inc. will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in Siga Technologies by 34.1% in the second quarter. BNP Paribas Financial Markets now owns 4,661 shares of the company's stock valued at $30,000 after buying an additional 1,184 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Siga Technologies by 5.5% during the second quarter. Cresset Asset Management LLC now owns 30,097 shares of the company's stock worth $196,000 after purchasing an additional 1,567 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of Siga Technologies by 14.5% during the fourth quarter. EP Wealth Advisors LLC now owns 13,887 shares of the company's stock worth $83,000 after purchasing an additional 1,755 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Siga Technologies by 8.0% during the first quarter. Linden Thomas Advisory Services LLC now owns 26,230 shares of the company's stock worth $144,000 after purchasing an additional 1,938 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Siga Technologies by 0.6% during the second quarter. Federated Hermes Inc. now owns 362,961 shares of the company's stock worth $2,367,000 after purchasing an additional 1,991 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company's stock.

About Siga Technologies

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.