Siga Technologies Target of Unusually High Options Trading (NASDAQ:SIGA)

Key Points

• Investors bought an unusually large number of call options in Siga — 1,200 call contracts, a roughly 1,438% increase over the typical daily volume of 78.
• Weiss Ratings downgraded Siga from a "hold (c-)" to a "sell (d+)," and MarketBeat shows a consensus analyst rating of Sell.
• Siga disclosed a special dividend of $0.60 per share, payable April 23 to shareholders of record as of April 7 (ex-dividend date April 7).

Siga Technologies Inc. (NASDAQ:SIGA - Get Free Report) was the target of unusually large options trading on Wednesday. Stock investors acquired 1,200 call options on the stock. This is an increase of 1,438% compared to the typical daily volume of 78 call options.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Siga Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

Institutional Trading of Siga Technologies

A number of hedge funds have recently made changes to their positions in SIGA. Farther Finance Advisors LLC raised its stake in shares of Siga Technologies by 418.1% during the fourth quarter. Farther Finance Advisors LLC now owns 4,150 shares of the company's stock valued at $25,000 after purchasing an additional 3,349 shares during the period. BNP Paribas Financial Markets increased its position in shares of Siga Technologies by 34.1% during 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 during the last quarter. CWM LLC increased its position in shares of Siga Technologies by 148.6% during 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 during 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 increased its position 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. Hedge funds and other institutional investors own 55.40% of the company's stock.

Siga Technologies Price Performance

NASDAQ:SIGA opened at $4.70 on Thursday. The business's 50-day moving average is $5.72 and its two-hundred day moving average is $6.56. Siga Technologies has a 12 month low of $4.29 and a 12 month high of $9.62. The firm has a market capitalization of $336.71 million, a PE ratio of 15.16 and a beta of 1.05.

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

Siga Technologies Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.