Siga Technologies Sees Unusually Large Options Volume (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 acquired 1,200 call options on the company. Thisrepresentsanincreaseof1,438% compared to the typical volume of 78 call options.

Hedge Funds Weigh In On Siga Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in Siga Technologies by 52.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 3,158,320 shares of the company's stock worth $17,308,000 after buying an additional 1,093,080 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Siga Technologies by 11.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,126,065 shares of the company's stock worth $12,777,000 after acquiring an additional 217,926 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Siga Technologies by 2.5% in the 2nd quarter. American Century Companies Inc. now owns 1,405,174 shares of the company's stock valued at $9,162,000 after purchasing an additional 34,514 shares during the period. Geode Capital Management LLC lifted its stake in shares of Siga Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,132,397 shares of the company's stock valued at $6,807,000 after purchasing an additional 19,654 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Siga Technologies by 0.6% during the second quarter. New York State Common Retirement Fund now owns 593,050 shares of the company's stock valued at $3,867,000 after purchasing an additional 3,430 shares in the last quarter. Hedge funds and other institutional investors own 55.40% of the company's stock.

Wall Street Analyst Weigh In

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 Up 0.1%

Shares of Siga Technologies stock opened at $8.78 on Thursday. The company has a market cap of $628.74 million, a PE ratio of 7.77 and a beta of 0.94. The business has a 50 day moving average of $7.11 and a 200 day moving average of $6.28. Siga Technologies has a 52 week low of $4.95 and a 52 week high of $9.89.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last released its quarterly earnings results 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 net margin of 45.73% and a return on equity of 40.52%. On average, research analysts anticipate that Siga Technologies will post 1.04 earnings per share for the current year.

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.

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