Stock Traders Purchase High Volume of Call Options on Siga Technologies (NASDAQ:SIGA)

Key Points

• Siga Technologies experienced a significant spike in options trading, with investors purchasing 1,200 call options, a 1,438% increase from the typical volume of 78.
• Several institutional investors have increased their stakes in Siga, with Hotchkis & Wiley Capital Management raising its position by 52.9%, now owning over 3 million shares.
• The company's latest earnings report showed earnings per share of $0.49 and revenue of $81.12 million, indicating a healthy net margin of 45.73%.

Siga Technologies Inc. (NASDAQ:SIGA - Get Free Report) was the recipient of unusually large options trading on Wednesday. Investors bought 1,200 call options on the company. Thisrepresentsanincreaseof1,438% compared to the typical volume of 78 call options.

Siga Technologies Trading Up 4.8%

SIGA stock traded up $0.41 during mid-day trading on Friday, hitting $8.96. The stock had a trading volume of 831,891 shares, compared to its average volume of 463,998. Siga Technologies has a 1-year low of $4.95 and a 1-year high of $12.83. The company has a fifty day moving average of $6.61 and a 200 day moving average of $6.12. The stock has a market capitalization of $641.63 million, a price-to-earnings ratio of 7.93 and a beta of 0.94.

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 (EPS) for the quarter. Siga Technologies had a net margin of 45.73% and a return on equity of 40.52%. The company had revenue of $81.12 million for the quarter. As a group, sell-side analysts expect that Siga Technologies will post 1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale acquired a new position in Siga Technologies during the second quarter worth $34,000. Russell Investments Group Ltd. grew its position in shares of Siga Technologies by 6,344.8% in the first quarter. Russell Investments Group Ltd. now owns 9,925 shares of the company's stock valued at $54,000 after purchasing an additional 9,771 shares during the last quarter. Corton Capital Inc. bought a new position in shares of Siga Technologies during the first quarter worth approximately $58,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Siga Technologies during the fourth quarter worth approximately $78,000. Finally, Bailard Inc. bought a new position in Siga Technologies during the second quarter worth about $78,000. 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.