Globeflex Capital L P Acquires 43,095 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Globeflex Capital L P lifted its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 468.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,295 shares of the biotechnology company’s stock after purchasing an additional 43,095 shares during the period. Globeflex Capital L P owned about 0.30% of Rigel Pharmaceuticals worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Rigel Pharmaceuticals by 42.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 139,128 shares of the biotechnology company’s stock valued at $2,340,000 after buying an additional 41,122 shares in the last quarter. FMR LLC grew its position in shares of Rigel Pharmaceuticals by 119.4% in the 3rd quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock worth $778,000 after buying an additional 26,184 shares during the last quarter. Catalyst Funds Management Pty Ltd grew its position in shares of Rigel Pharmaceuticals by 777.8% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 23,700 shares of the biotechnology company’s stock worth $399,000 after buying an additional 21,000 shares during the last quarter. PDT Partners LLC purchased a new stake in Rigel Pharmaceuticals during the 3rd quarter worth approximately $322,000. Finally, BNP Paribas Financial Markets grew its position in Rigel Pharmaceuticals by 1,199.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after purchasing an additional 19,391 shares during the last quarter. 66.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rigel Pharmaceuticals news, EVP David A. Santos sold 2,125 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $44,455.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dean L. Schorno sold 2,036 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $42,593.12. Following the completion of the sale, the chief financial officer now owns 58,969 shares in the company, valued at $1,233,631.48. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,113 shares of company stock worth $190,644. Corporate insiders own 9.04% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL opened at $20.13 on Friday. The stock has a market capitalization of $359.58 million, a PE ratio of 143.80 and a beta of 1.35. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82. The company’s 50-day simple moving average is $20.51 and its 200-day simple moving average is $18.73.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.50. The business had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $57.59 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. On average, sell-side analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

RIGL has been the subject of several research reports. HC Wainwright restated a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Citigroup boosted their target price on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Cantor Fitzgerald boosted their price target on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. StockNews.com lowered shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 8th. Finally, B. Riley upped their price objective on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Rigel Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $36.80.

Rigel Pharmaceuticals Company 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.