Siga Technologies Sees Unusually High Options Volume (NASDAQ:SIGA)

Key Points

• Traders bought an unusually large volume of calls — 1,200 call options were traded Wednesday, a roughly 1,438% increase over the average daily volume of 78 calls.
• Siga declared a special dividend of $0.60 per share, with an ex-dividend and record date of April 7 and a payment date of April 23.
• Siga is a specialty pharmaceutical maker of TPOXX with U.S. government procurement contracts; the stock trades around $5.17 with a market cap of about $370.4 million and a 52-week range of $4.81–$9.62.

Siga Technologies Inc. (NASDAQ:SIGA - Get Free Report) saw unusually large options trading on Wednesday. Traders acquired 1,200 call options on the company. This represents an increase of approximately 1,438% compared to the average daily volume of 78 call options.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Siga Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Siga Technologies has an average rating of "Hold".

Siga Technologies Stock Performance

NASDAQ:SIGA opened at $5.17 on Thursday. Siga Technologies has a fifty-two week low of $4.81 and a fifty-two week high of $9.62. The stock has a market capitalization of $370.38 million, a P/E ratio of 16.68 and a beta of 1.05. The company's 50-day simple moving average is $6.13 and its 200-day simple moving average is $6.85.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.08) EPS for the quarter. Siga Technologies had a return on equity of 11.25% and a net margin of 24.61%.The firm had revenue of $3.79 million for the quarter. On average, research analysts forecast that Siga Technologies will post 1.04 EPS for the current year.

Siga Technologies Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Tuesday, April 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, April 7th.

Institutional Trading of Siga Technologies

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in Siga Technologies by 418.1% during the 4th quarter. Farther Finance Advisors LLC now owns 4,150 shares of the company's stock worth $25,000 after buying an additional 3,349 shares during the last quarter. BNP Paribas Financial Markets boosted 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 worth $30,000 after acquiring an additional 1,184 shares in the last quarter. CWM LLC boosted its holdings 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 acquiring an additional 3,005 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Siga Technologies during the third quarter worth about $34,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Siga Technologies by 116.6% during the second quarter. Tower Research Capital LLC TRC now owns 6,817 shares of the company's stock worth $44,000 after acquiring an additional 3,669 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company's stock.

About Siga Technologies

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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