In this article, we will take a look at the 5 best stocks under $15 according to Billionaire Michael Price. If you wish to see our detailed analysis of Price’s history, investment philosophy, and hedge fund performance, go directly to 10 Best Stocks Under $15 According to Billionaire Michael Price.
5. Siga Technologies, Inc. (NASDAQ:SIGA)
Price’s Stake Value: $7.5 million
Percentage of Michael Price’s 13F Portfolio: 0.83%
Number of Hedge Fund Holders: 13
Stock Price as of September 29: $7.31
Siga Technologies, Inc. (NASDAQ:SIGA) is a New York-based pharmaceutical company that markets anti-viral treatments for lethal pathogens. Ranked fifth on the list of the 10 best stocks under $15 according to Michael Price, Siga Technologies, Inc. (NASDAQ:SIGA) has a market capitalization of $548.81 million.
Michael Price’s MFP Investors currently holds over 1.2 million shares of Siga Technologies, Inc. (NASDAQ:SIGA), worth more than $7.5 million and accounting for 0.83% of the fund’s portfolio. At the end of the second quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth more than $28.3 million in Siga Technologies, Inc. (NASDAQ:SIGA). The number of hedge funds that held stakes within the company remained the same for the first and second quarters of 2021.
At the end of the second quarter of 2021, Siga Technologies, Inc. (NASDAQ:SIGA) reported revenues amounting to over $8.65 million.
Steel City Capital, an investment management firm, mentioned SIGA Technologies, Inc. (NASDAQ:SIGA) in its Q2 2021 investor letter. Here is what the fund said:
“As “I go to print,” there’s a small possibility that SIGA Technologies (SIGA) is on the cusp of “meme stock” status, although I’m not holding my breath, and that’s certainly not the reason we own shares. SIGA is a commercial stage pharmaceutical company whose sole product, TPOXX, is an antiviral drug approved by the FDA for the treatment of smallpox. The company has an option-based contract to replenish the U.S. Government’s existing stockpile of the drug over the next several years. The remaining value of the contract if fully exercised – which I believe it will be – will generate more than $400 million in revenue for SIGA. The company is also pursuing a variety of growth initiatives both domestically and abroad. At recent prices, shares are trading at a mid-single digit P/E multiple.
So, what has made the company a viable “meme stock” candidate? As of this morning, more than 200 people in 27 states are being monitored for possible exposure to monkeypox after they had contract with an individual who contracted the disease in Nigeria before traveling to the United States this month. While SIGA’s drug is approved only for smallpox, the company is pursuing approval in Europe for indications that include smallpox, cowpox, and monkeypox. I believe the “Twittersphere” is starting to take notice of the connection. If nothing else, the monkeypox scare should reinforce to the U.S. Government and other governments around the world that deadly viral outbreaks are highly unpredictable yet unfortunately very possible. While we’re still learning lessons from COVID-19, I expect health and government officials around the world to make the calculation that it’s better to be prepared for such outbreaks before they occur. That should bode well for SIGA’s prospects.”
