Siga Technologies (NASDAQ:SIGA) Share Price Breaks Above 50-Day Moving Average – Here’s Why

Siga Technologies Inc. (NASDAQ:SIGA)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $3.19 and traded as high as $3.30. Siga Technologies shares last traded at $3.26, with a volume of 544,249 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Siga Technologies in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Siga Technologies has an average rating of “Sell”.

Siga Technologies Stock Performance

The company has a market capitalization of $225.64 million, a price-to-earnings ratio of -62.80 and a beta of 1.10. The firm has a fifty day moving average price of $3.19 and a 200-day moving average price of $4.26.

Siga Technologies (NASDAQ:SIGA) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $1.32 million during the quarter. Siga Technologies had a net margin of 1.31% and a return on equity of 0.40%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in Siga Technologies during the second quarter worth $1,555,000. BlackRock Inc. acquired a new stake in Siga Technologies in the second quarter worth $15,238,000. Arrowstreet Capital Limited Partnership increased its stake in Siga Technologies by 48.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,525,960 shares of the company’s stock valued at $8,164,000 after purchasing an additional 500,880 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Siga Technologies by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,702,724 shares of the company’s stock valued at $14,459,000 after purchasing an additional 165,930 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of Siga Technologies during the second quarter valued at about $573,000. Institutional investors own 55.40% of the company’s stock.

About Siga Technologies

SIGA Technologies, Inc. is a commercial-stage pharmaceutical company focused on developing and supplying medical countermeasures for high-consequence infectious diseases. Its primary product is TPOXX (tecovirimat), an antiviral medicine developed to treat smallpox. TPOXX targets orthopoxviruses, the virus family that includes variola virus, which causes smallpox, as well as mpox and other related infections. TPOXX has been approved by the U.S. Food and Drug Administration in oral and intravenous formulations for the treatment of smallpox.