Siga Technologies (NASDAQ:SIGA) Trading Down 4.9% - Here's Why

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)'s stock price 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 trading, a decline of 31% from the average daily volume of 470,933 shares. The stock had previously closed at $9.30.

Analyst Ratings Changes

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

Siga Technologies Stock Performance

The company has a market cap of $608.69 million, a PE ratio of 7.52 and a beta of 0.94. The firm has a fifty day simple moving average of $6.96 and a 200 day simple moving average of $6.22.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.49 earnings per share for the quarter. The business had revenue of $81.12 million for the quarter. Siga Technologies had a return on equity of 40.52% and a net margin of 45.73%. As a group, equities analysts predict that Siga Technologies Inc. will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Siga Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Siga Technologies by 34.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,661 shares of the company's stock valued at $30,000 after purchasing an additional 1,184 shares in the last quarter. Cresset Asset Management LLC grew its stake in Siga Technologies by 5.5% during the 2nd quarter. Cresset Asset Management LLC now owns 30,097 shares of the company's stock worth $196,000 after buying an additional 1,567 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Siga Technologies by 14.5% in 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 lifted its holdings 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 valued at $144,000 after purchasing an additional 1,938 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings 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 valued at $2,367,000 after purchasing an additional 1,991 shares during the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.

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.