Integrated Quantitative Investments LLC Invests $181,000 in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Integrated Quantitative Investments LLC bought a new position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,759 shares of the biotechnology company’s stock, valued at approximately $181,000. Integrated Quantitative Investments LLC owned about 0.06% of Rigel Pharmaceuticals at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Rigel Pharmaceuticals by 119.4% during the third quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 26,184 shares during the last quarter. BNP Paribas Financial Markets lifted its stake 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 valued at $340,000 after acquiring an additional 19,391 shares in the last quarter. State Street Corp grew its stake in shares of Rigel Pharmaceuticals by 0.7% in the 3rd quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock worth $5,951,000 after acquiring an additional 2,552 shares in the last quarter. Barclays PLC raised its holdings in shares of Rigel Pharmaceuticals by 158.6% in the third quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock valued at $442,000 after purchasing an additional 16,772 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Rigel Pharmaceuticals by 2.3% during the third 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 in the last quarter. Institutional investors own 66.23% of the company’s stock.

Analyst Ratings Changes

RIGL has been the topic of a number of recent analyst reports. Cantor Fitzgerald lifted their price target on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. StockNews.com downgraded shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 8th. Citigroup raised their price objective on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. HC Wainwright reiterated a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Finally, B. Riley raised their price target on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.80.

Rigel Pharmaceuticals Stock Down 2.4 %

NASDAQ RIGL opened at $17.24 on Friday. The company has a market cap of $307.96 million, a PE ratio of 123.15 and a beta of 1.32. The firm’s 50-day simple moving average is $20.62 and its two-hundred day simple moving average is $19.37. Rigel Pharmaceuticals, Inc. has a 52 week low of $7.48 and a 52 week high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.30 by $0.50. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The company had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.59 million. As a group, equities research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Insider Activity

In other Rigel Pharmaceuticals news, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $44,455.00. Following the completion of the transaction, the executive vice president now owns 53,500 shares of the company’s stock, valued at $1,119,220. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dean L. Schorno sold 2,036 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $42,593.12. Following the sale, the chief financial officer now owns 58,969 shares in the company, valued at approximately $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. Over the last three months, insiders sold 9,113 shares of company stock worth $190,644. 9.04% of the stock is owned by corporate insiders.

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.