Los Angeles Capital Management LLC Purchases 11,499 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Los Angeles Capital Management LLC lifted its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 15.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,001 shares of the biotechnology company’s stock after purchasing an additional 11,499 shares during the period. Los Angeles Capital Management LLC owned about 0.49% of Rigel Pharmaceuticals worth $1,447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Rigel Pharmaceuticals by 10.3% in the fourth quarter. Bank of New York Mellon Corp now owns 50,195 shares of the biotechnology company’s stock worth $844,000 after purchasing an additional 4,672 shares during the last quarter. Rhumbline Advisers lifted its stake in Rigel Pharmaceuticals by 6.3% in the fourth quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company’s stock worth $423,000 after acquiring an additional 1,485 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Rigel Pharmaceuticals in the fourth quarter worth $63,000. SG Americas Securities LLC lifted its stake in Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 2,827 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Rigel Pharmaceuticals by 45.0% in the third quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company’s stock worth $425,000 after acquiring an additional 8,140 shares during the period. Institutional investors own 66.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. B. Riley raised their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. StockNews.com lowered Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Citigroup raised their price target on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald raised their price target on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Insider Buying and Selling at Rigel Pharmaceuticals

In other news, CEO Raul R. Rodriguez sold 4,952 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $103,595.84. Following the transaction, the chief executive officer now directly owns 243,854 shares of the company’s stock, valued at $5,101,425.68. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $44,455.00. Following the transaction, the executive vice president now directly owns 53,500 shares in the company, valued at approximately $1,119,220. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,113 shares of company stock valued at $190,644. 9.04% of the stock is currently owned by company insiders.

Rigel Pharmaceuticals Trading Up 5.9 %

Shares of Rigel Pharmaceuticals stock opened at $23.06 on Friday. The firm has a market capitalization of $406.20 million, a P/E ratio of 164.73 and a beta of 1.34. The business has a fifty day simple moving average of $19.79 and a two-hundred day simple moving average of $18.18. Rigel Pharmaceuticals, Inc. has a 12 month low of $7.48 and a 12 month high of $29.82.

Rigel Pharmaceuticals Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company’s commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.