Traders Purchase High Volume of Call Options on Siga Technologies (NASDAQ:SIGA)

Siga Technologies Inc. (NASDAQ:SIGA) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 1,200 call options on the company. This represents an increase of 1,438% compared to the typical volume of 78 call options.

Siga Technologies Stock Performance

SIGA stock opened at $6.68 on Thursday. The stock’s 50 day simple moving average is $6.55 and its 200 day simple moving average is $7.44. The company has a market cap of $478.35 million, a P/E ratio of 6.55 and a beta of 0.96. Siga Technologies has a fifty-two week low of $4.95 and a fifty-two week high of $9.62.

Analyst Ratings Changes

SIGA has been the subject of a number of research analyst reports. Weiss Ratings downgraded Siga Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 26th. Wall Street Zen downgraded shares of Siga Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in shares of Siga Technologies by 34.1% in the 2nd 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. Denali Advisors LLC boosted its position in shares of Siga Technologies by 0.4% during the fourth quarter. Denali Advisors LLC now owns 361,800 shares of the company’s stock valued at $2,211,000 after buying an additional 1,500 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Siga Technologies by 2.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 60,420 shares of the company’s stock worth $510,000 after buying an additional 1,528 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Siga Technologies by 5.5% during the second quarter. Cresset Asset Management LLC now owns 30,097 shares of the company’s stock worth $196,000 after buying an additional 1,567 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Siga Technologies by 5.4% in the 4th quarter. Deutsche Bank AG now owns 31,512 shares of the company’s stock valued at $193,000 after buying an additional 1,602 shares during the last quarter. 55.40% of the stock is currently owned by institutional investors and hedge funds.

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.