5 Healthcare and Biotech Stocks to Buy Amid Monkeypox Threat

5. SIGA Technologies Inc. (NASDAQ:SIGA)

Number of Hedge Fund Holders: 10

SIGA Technologies, Inc. (NASDAQ:SIGA) is a commercial-stage pharmaceutical company that manufactures TPOXX, an oral formulation antiviral drug for the treatment of human smallpox disease caused by the variola virus. On July 12, SIGA Technologies, Inc. (NASDAQ:SIGA) announced that it has received approximately $28 million of procurement orders for its oral antiviral drug, TPOXX.

While TPOXX is only FDA-approved for the treatment of smallpox, on August 4 it was reported the U.S. FDA is looking to conduct clinical trials of the oral vaccine to determine its efficacy for monkeypox. As of August 5, shares of SIGA Technologies Inc. (NASDAQ:SIGA) have soared 206.18% year to date.

On August 4, Siga Technologies Inc. (NASDAQ:SIGA) reported earnings for the second quarter of 2022. The company reported a revenue of $17 million of which roughly $5 million was attributed to international sales of oral TPOXX and $4 million was attributed to sales of oral TPOXX to the U.S. Department of Defense. The company reported its operating income for the second quarter of 2022 amounted to $3.1 million and its diluted earnings per share came in at $0.03. As of July 31, Siga Technologies Inc. (NASDAQ:SIGA) has received $60 million worth of international orders of which roughly $5 million worth of orders were delivered in the second quarter of 2022.

At the end of Q1 2022, SIGA Technologies Inc. (NASDAQ:SIGA) was spotted on 10 hedge fund portfolios. The total stakes of these hedge funds amounted to $37.66 million. This is compared to 13 positions in Q4 2021 with stakes worth $43.71 million.

As of March 31, AltraVue Capital owns 2.47 million shares of SIGA Technologies Inc. (NASDAQ:SIGA) and is the largest shareholder in the company. The fund’s stakes are valued at $17.52 million and the investment covers 2.38% of its 13F portfolio.