Catalyst Funds Management Pty Ltd Purchases 21,000 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Catalyst Funds Management Pty Ltd boosted its position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 777.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,700 shares of the biotechnology company’s stock after purchasing an additional 21,000 shares during the period. Catalyst Funds Management Pty Ltd owned about 0.13% of Rigel Pharmaceuticals worth $399,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Rigel Pharmaceuticals by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company’s stock valued at $6,468,000 after purchasing an additional 8,881 shares during the last quarter. State Street Corp lifted its holdings in Rigel Pharmaceuticals by 0.7% during the 3rd quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock valued at $5,951,000 after purchasing an additional 2,552 shares during the last quarter. Stonepine Capital Management LLC increased its position in Rigel Pharmaceuticals by 1.3% in the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock valued at $5,001,000 after acquiring an additional 4,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Rigel Pharmaceuticals by 42.0% in 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 acquiring an additional 41,122 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Rigel Pharmaceuticals by 15.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 86,001 shares of the biotechnology company’s stock valued at $1,447,000 after acquiring an additional 11,499 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Price Performance

Shares of NASDAQ:RIGL opened at $20.13 on Friday. Rigel Pharmaceuticals, Inc. has a one year low of $7.48 and a one year high of $29.82. The company has a 50 day moving average of $20.51 and a 200-day moving average of $18.77. The stock has a market cap of $359.58 million, a price-to-earnings ratio of 143.80 and a beta of 1.35.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.50. The firm had revenue of $57.60 million during 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%. Equities research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Insider Activity at Rigel Pharmaceuticals

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 8th. HC Wainwright restated a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. Cantor Fitzgerald raised their price objective on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. B. Riley raised their price objective on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Finally, Citigroup lifted their price target on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

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.