Siga Technologies (NASDAQ:SIGA) Stock Crosses Above 50-Day Moving Average – Here’s Why

Shares of Siga Technologies Inc. (NASDAQ:SIGA) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $3.18 and traded as high as $3.24. Siga Technologies shares last traded at $3.20, with a volume of 409,254 shares traded.

Wall Street Analysts Forecast Growth

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

Siga Technologies Stock Performance

The company has a market capitalization of $228.48 million, a price-to-earnings ratio of -63.60 and a beta of 1.04. The firm has a 50-day simple moving average of $3.18 and a two-hundred day simple moving average of $4.42.

Siga Technologies (NASDAQ:SIGA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $41.00 million for the quarter. Siga Technologies had a negative net margin of 5.19% and a negative return on equity of 1.55%.

Hedge Funds Weigh In On Siga Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Seven Mile Advisory acquired a new stake in Siga Technologies in the third quarter valued at approximately $34,000. The Manufacturers Life Insurance Company purchased a new position in Siga Technologies in the second quarter worth approximately $52,000. State of Wyoming acquired a new position in Siga Technologies during the 2nd quarter worth approximately $56,000. Hsbc Holdings PLC acquired a new position in Siga Technologies during the 2nd quarter worth approximately $62,000. Finally, Williams & Novak Wealth Management LLC purchased a new stake in shares of Siga Technologies in the 3rd quarter valued at approximately $61,000. Hedge funds and other 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.