Siga Technologies (NASDAQ:SIGA) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Siga Technologies Inc. (NASDAQ:SIGA) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty 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 traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Siga Technologies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

Siga Technologies Trading Up 5.2%

The firm has a market cap of $234.23 million, a price-to-earnings ratio of -65.20 and a beta of 1.10. The stock has a 50-day moving average of $3.19 and a 200-day moving average of $4.30.

Siga Technologies (NASDAQ:SIGA) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.04) EPS for the quarter. Siga Technologies had a negative return on equity of 1.55% and a negative net margin of 5.19%. The company had revenue of $1.32 million for the quarter.

Hedge Funds Weigh In On Siga Technologies

Several institutional investors have recently modified their holdings of SIGA. Bank of New York Mellon Corp boosted its stake in shares of Siga Technologies by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 256,803 shares of the company’s stock worth $1,374,000 after acquiring an additional 2,635 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Siga Technologies by 26.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,904 shares of the company’s stock worth $62,000 after acquiring an additional 3,519 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Siga Technologies by 3.5% in the 1st quarter. First Trust Advisors LP now owns 160,355 shares of the company’s stock worth $858,000 after acquiring an additional 5,411 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Siga Technologies by 34.6% during the third quarter. State of Alaska Department of Revenue now owns 24,251 shares of the company’s stock worth $82,000 after purchasing an additional 6,233 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Siga Technologies by 22.2% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 53,694 shares of the company’s stock worth $287,000 after purchasing an additional 9,772 shares during the period. Institutional investors own 55.40% of the company’s stock.

Siga Technologies Company Profile

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.