Investors Purchase Large Volume of Call Options on Siga Technologies (NASDAQ:SIGA)

Key Points

• Siga Technologies experienced a significant spike in options trading, with traders purchasing 1,200 call options, marking an increase of 1,438% compared to the average volume.
• The company reported earnings of $0.49 per share for the recent quarter, alongside strong financial metrics including a net margin of 45.73%.
• Institutional investors are increasing their stakes in Siga Technologies, with over 55% of the stock now owned by these entities.

Siga Technologies Inc. (NASDAQ:SIGA - Get Free Report) saw some unusual options trading activity on Wednesday. Traders purchased 1,200 call options on the company. Thisrepresentsanincreaseof1,438% compared to the typical volume of 78 call options.

Siga Technologies Stock Down 0.8%

Shares of NASDAQ:SIGA traded down $0.07 during midday trading on Friday, reaching $8.42. The company's stock had a trading volume of 383,355 shares, compared to its average volume of 585,930. The firm has a market cap of $602.96 million, a price-to-earnings ratio of 7.45 and a beta of 0.95. Siga Technologies has a 1 year low of $4.95 and a 1 year high of $9.62. The business has a 50 day moving average price of $7.63 and a 200 day moving average price of $6.49.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last announced 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 during the quarter. Sell-side analysts anticipate that Siga Technologies will post 1.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Siga Technologies

Several institutional investors have recently made changes to their positions in the stock. Cim Investment Management Inc. grew its stake in shares of Siga Technologies by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 50,635 shares of the company's stock valued at $317,000 after buying an additional 25,411 shares during the period. Tower Research Capital LLC TRC boosted its position in Siga Technologies by 116.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,817 shares of the company's stock worth $44,000 after purchasing an additional 3,669 shares during the period. Corient Private Wealth LLC boosted its position in Siga Technologies by 132.8% during the 2nd quarter. Corient Private Wealth LLC now owns 28,194 shares of the company's stock worth $184,000 after purchasing an additional 16,082 shares during the period. Oxford Asset Management LLP purchased a new stake in Siga Technologies during the 2nd quarter worth $177,000. Finally, BNP Paribas Financial Markets boosted its position in 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 purchasing an additional 1,184 shares during the period. 55.40% of the stock is owned by hedge funds and other 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.