Key Points
- Walter Moos sold 4,000 shares of Rigel Pharmaceuticals on February 20 at an average price of $36.36 for about $145,440, reducing his holding by 23.92% to 12,722 shares (worth ~ $462,572).
- RIGL opened at $34.51, trades in a 1‑year range of $15.50–$52.24, and has a market cap of $626.36 million with a PE ratio of 5.59.
- Institutional investors (e.g., State Street, LSV, Millennium) have materially increased positions, and analysts' consensus is a Hold with an average price target of $43.20, though several firms recently upgraded the stock to Buy.
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) Director Walter Moos sold 4,000 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $36.36, for a total value of $145,440.00. Following the completion of the transaction, the director owned 12,722 shares in the company, valued at $462,571.92. The trade was a 23.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Rigel Pharmaceuticals Stock Performance
Shares of Rigel Pharmaceuticals stock opened at $34.51 on Wednesday. Rigel Pharmaceuticals, Inc. has a 1-year low of $15.50 and a 1-year high of $52.24. The company has a market cap of $626.36 million, a PE ratio of 5.59 and a beta of 1.11. The company has a current ratio of 2.28, a quick ratio of 2.14 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $38.57 and a 200-day moving average of $37.50.
Hedge Funds Weigh In On Rigel Pharmaceuticals
A number of hedge funds have recently added to or reduced their stakes in RIGL. State Street Corp increased its holdings in Rigel Pharmaceuticals by 96.9% during the 4th quarter. State Street Corp now owns 1,091,223 shares of the biotechnology company's stock worth $46,737,000 after purchasing an additional 536,905 shares in the last quarter. LSV Asset Management boosted its position in shares of Rigel Pharmaceuticals by 390.8% during the fourth quarter. LSV Asset Management now owns 544,282 shares of the biotechnology company's stock valued at $23,312,000 after buying an additional 433,382 shares during the last quarter. Millennium Management LLC grew its holdings in Rigel Pharmaceuticals by 309.7% during the fourth quarter. Millennium Management LLC now owns 431,460 shares of the biotechnology company's stock worth $18,479,000 after buying an additional 326,159 shares in the last quarter. Marshall Wace LLP grew its holdings in Rigel Pharmaceuticals by 63.0% during the third quarter. Marshall Wace LLP now owns 601,333 shares of the biotechnology company's stock worth $17,036,000 after buying an additional 232,383 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Rigel Pharmaceuticals by 110.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 360,966 shares of the biotechnology company's stock valued at $10,226,000 after buying an additional 189,542 shares during the last quarter. Institutional investors and hedge funds own 66.23% of the company's stock.
Analyst Upgrades and Downgrades
RIGL has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a research report on Thursday, January 22nd. Wall Street Zen raised Rigel Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Sunday, December 21st. Cantor Fitzgerald upped their price target on shares of Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, November 5th. Zacks Research raised shares of Rigel Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group raised Rigel Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their target price for the company from $23.00 to $42.00 in a research report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $43.20.
Check Out Our Latest Analysis on Rigel Pharmaceuticals
Rigel Pharmaceuticals Company Profile
(
Get Free Report)
Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.
Rigel's lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
