Rigel Pharmaceuticals (NASDAQ:RIGL) Director Sells $145,440.00 in Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Director Walter Moos sold 4,000 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $36.36, for a total transaction of $145,440.00. Following the sale, the director directly owned 12,722 shares of the company’s stock, valued at approximately $462,571.92. The trade was a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rigel Pharmaceuticals Stock Up 0.7%

Shares of Rigel Pharmaceuticals stock traded up $0.25 on Tuesday, reaching $34.51. The stock had a trading volume of 304,732 shares, compared to its average volume of 364,526. The stock has a market capitalization of $626.39 million, a P/E ratio of 5.59 and a beta of 1.11. Rigel Pharmaceuticals, Inc. has a 1 year low of $15.50 and a 1 year high of $52.24. The company has a quick ratio of 2.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $38.72 and a 200 day moving average price of $37.48.

Institutional Trading of Rigel Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of RIGL. State Street Corp lifted its position in shares of Rigel Pharmaceuticals by 96.9% during the fourth 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 increased its stake in Rigel Pharmaceuticals by 390.8% during the 4th quarter. LSV Asset Management now owns 544,282 shares of the biotechnology company’s stock worth $23,312,000 after buying an additional 433,382 shares during the period. Millennium Management LLC increased its stake in Rigel Pharmaceuticals by 309.7% during the 4th 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 during the period. Marshall Wace LLP lifted its holdings in Rigel Pharmaceuticals by 63.0% during the 3rd 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 boosted 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 period. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RIGL has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research note on Thursday, January 22nd. Citigroup reissued a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 14th. Wall Street Zen upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Jefferies Financial Group upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $42.00 in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald increased their price objective on shares of Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.20.

Rigel Pharmaceuticals Company Profile

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).