Siga Technologies (NASDAQ:SIGA) Stock Price Down 3.5% – What’s Next?

Siga Technologies Inc. (NASDAQ:SIGA)’s stock price was down 3.5% on Wednesday . The company traded as low as $3.51 and last traded at $3.54. Approximately 588,616 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 562,953 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Siga Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Siga Technologies Price Performance

The stock has a market capitalization of $253.89 million, a PE ratio of 13.11 and a beta of 0.96. The business has a 50 day moving average price of $4.32 and a 200 day moving average price of $5.36.

Siga Technologies (NASDAQ:SIGA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $6.24 million during the quarter. Siga Technologies had a return on equity of 10.60% and a net margin of 21.58%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Siga Technologies by 744.6% during the third quarter. JPMorgan Chase & Co. now owns 211,055 shares of the company’s stock valued at $1,931,000 after acquiring an additional 186,067 shares in the last quarter. CSM Advisors LLC lifted its position in Siga Technologies by 66.5% in the 3rd quarter. CSM Advisors LLC now owns 596,512 shares of the company’s stock valued at $5,458,000 after acquiring an additional 238,255 shares in the last quarter. WINTON GROUP Ltd bought a new position in Siga Technologies in the 3rd quarter valued at approximately $966,000. LSV Asset Management boosted its stake in Siga Technologies by 28.8% during the 4th quarter. LSV Asset Management now owns 538,630 shares of the company’s stock valued at $3,291,000 after purchasing an additional 120,300 shares during the last quarter. Finally, Strs Ohio boosted its stake in Siga Technologies by 35.7% during the 4th quarter. Strs Ohio now owns 90,100 shares of the company’s stock valued at $551,000 after purchasing an additional 23,700 shares during the last quarter. 55.40% of the stock is owned by hedge funds and other institutional investors.

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.