Siga Technologies Sees Unusually High Options Volume (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) was the recipient of some unusual options trading on Wednesday. Investors acquired 1,200 call options on the stock. Thisisanincreaseof1,438% compared to the average daily volume of 78 call options.

Institutional Investors Weigh In On Siga Technologies

Several hedge funds have recently modified their holdings of SIGA. BNP Paribas Financial Markets boosted its holdings 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 valued at $30,000 after acquiring an additional 1,184 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Siga Technologies in the 2nd quarter valued at about $34,000. Tower Research Capital LLC TRC grew its position in shares of Siga Technologies by 116.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,817 shares of the company's stock valued at $44,000 after buying an additional 3,669 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Siga Technologies by 6,344.8% in the 1st quarter. Russell Investments Group Ltd. now owns 9,925 shares of the company's stock valued at $54,000 after buying an additional 9,771 shares during the last quarter. Finally, Corton Capital Inc. acquired a new position in shares of Siga Technologies in the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 55.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Siga Technologies Price Performance

Shares of NASDAQ SIGA traded up $0.09 during mid-day trading on Monday, hitting $8.51. 47,910 shares of the stock traded hands, compared to its average volume of 475,868. Siga Technologies has a twelve month low of $4.95 and a twelve month high of $9.62. The company has a market cap of $609.69 million, a PE ratio of 7.46 and a beta of 0.94. The firm has a 50 day simple moving average of $7.63 and a two-hundred day simple moving average of $6.50.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.49 earnings per share for the quarter. Siga Technologies had a return on equity of 40.52% and a net margin of 45.73%.The company had revenue of $81.12 million for the quarter. On average, equities research analysts anticipate that Siga Technologies will post 1.04 earnings per share for the current fiscal 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.