Walter Moos Sells 4,000 Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) 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 approximately $462,571.92. This trade represents a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rigel Pharmaceuticals Stock Performance

Rigel Pharmaceuticals stock traded up $0.25 during mid-day trading on Tuesday, reaching $34.51. 304,732 shares of the stock traded hands, compared to its average volume of 364,526. Rigel Pharmaceuticals, Inc. has a 12-month low of $15.50 and a 12-month high of $52.24. The business’s 50-day moving average is $38.72 and its 200-day moving average is $37.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.28 and a quick ratio of 2.14. The stock has a market capitalization of $626.39 million, a PE ratio of 5.59 and a beta of 1.11.

Institutional Trading of Rigel Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. AlphaQuest LLC boosted its stake in shares of Rigel Pharmaceuticals by 234.8% during the third quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 775 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rigel Pharmaceuticals by 400.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 1,020 shares during the period. IFP Advisors Inc bought a new position in shares of Rigel Pharmaceuticals in the 3rd quarter worth $55,000. CWM LLC raised its position in shares of Rigel Pharmaceuticals by 217.0% in the 4th quarter. CWM LLC now owns 1,791 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter worth $62,000. 66.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RIGL. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Thursday, January 22nd. Wall Street Zen upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 14th. Zacks Research upgraded 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 shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $42.00 in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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).