Hussman Strategic Advisors Inc. Invests $2.25 Million in Rigel Pharmaceuticals, Inc. $RIGL

Hussman Strategic Advisors Inc. bought a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 52,500 shares of the biotechnology company’s stock, valued at approximately $2,249,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Marshall Wace LLP increased its position in shares of 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 acquiring an additional 232,383 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Rigel Pharmaceuticals by 110.6% during the third quarter. Qube Research & Technologies Ltd now owns 360,966 shares of the biotechnology company’s stock worth $10,226,000 after acquiring an additional 189,542 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Rigel Pharmaceuticals by 8.5% during the third quarter. Hillsdale Investment Management Inc. now owns 284,394 shares of the biotechnology company’s stock worth $8,057,000 after acquiring an additional 22,330 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Rigel Pharmaceuticals by 474.6% during the third quarter. Two Sigma Investments LP now owns 220,298 shares of the biotechnology company’s stock worth $6,241,000 after acquiring an additional 181,956 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Rigel Pharmaceuticals by 35.1% during the third quarter. Dimensional Fund Advisors LP now owns 209,387 shares of the biotechnology company’s stock worth $5,933,000 after acquiring an additional 54,366 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

Insider Transactions at Rigel Pharmaceuticals

In other Rigel Pharmaceuticals news, Director Walter H. Moos sold 4,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $36.36, for a total value of $145,440.00. Following the completion of the sale, the director directly owned 12,722 shares of the company’s stock, valued at approximately $462,571.92. This represents a 23.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Zacks Research raised shares of Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Citigroup reaffirmed a “buy” rating on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $45.67.

Rigel Pharmaceuticals Trading Up 1.7%

Shares of RIGL stock opened at $29.40 on Friday. Rigel Pharmaceuticals, Inc. has a 52-week low of $16.88 and a 52-week high of $52.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.30 and a current ratio of 2.42. The company has a 50-day simple moving average of $29.53 and a two-hundred day simple moving average of $35.51. The company has a market capitalization of $543.31 million, a price-to-earnings ratio of 1.55 and a beta of 1.21.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.19). Rigel Pharmaceuticals had a return on equity of 79.84% and a net margin of 124.72%.The firm had revenue of $69.80 million during the quarter, compared to the consensus estimate of $68.70 million. Research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 4.25 EPS for the current fiscal year.

About Rigel Pharmaceuticals

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).