Traders Buy High Volume of Siga Technologies Call Options (NASDAQ:SIGA)

Key Points

• Siga Technologies experienced a significant increase in options trading, with 1,200 call options acquired, marking a 1,438% rise compared to its average volume.
• Several institutional investors, including Hotchkis & Wiley Capital Management, have increased their holdings in Siga Technologies, with total institutional ownership now at 55.40%.
• Wall Street Zen upgraded Siga Technologies from a "hold" rating to a "strong-buy" rating, reflecting positive sentiment from analysts following the company's strong quarterly earnings report.

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

Analyst Ratings Changes

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

Siga Technologies Stock Performance

SIGA stock traded down $0.21 during mid-day trading on Tuesday, hitting $8.49. 555,971 shares of the company were exchanged, compared to its average volume of 655,949. The firm has a market cap of $607.97 million, a P/E ratio of 7.51 and a beta of 0.94. The firm's 50 day simple moving average is $7.30 and its 200 day simple moving average is $6.36. Siga Technologies has a 1-year low of $4.95 and a 1-year high of $9.62.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.49 earnings per share 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 predict that Siga Technologies will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Siga Technologies

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in shares of Siga Technologies by 34.1% during the 2nd 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. Cresset Asset Management LLC grew its stake in shares of 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 acquiring an additional 1,567 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Siga Technologies by 14.5% during the 4th quarter. EP Wealth Advisors LLC now owns 13,887 shares of the company's stock worth $83,000 after acquiring an additional 1,755 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Siga Technologies by 8.0% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 26,230 shares of the company's stock worth $144,000 after acquiring an additional 1,938 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Siga Technologies by 0.6% during the 2nd quarter. Federated Hermes Inc. now owns 362,961 shares of the company's stock worth $2,367,000 after acquiring an additional 1,991 shares in the last quarter. 55.40% of the stock is owned by institutional investors.

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.