Rhumbline Advisers decreased its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,298 shares of the biotechnology company’s stock after selling 4,832 shares during the period. Rhumbline Advisers owned about 0.13% of Rigel Pharmaceuticals worth $548,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. HRT Financial LLC bought a new stake in Rigel Pharmaceuticals in the fourth quarter valued at approximately $28,000. Amalgamated Bank increased its stake in shares of Rigel Pharmaceuticals by 128.4% during the fourth quarter. Amalgamated Bank now owns 24,692 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 13,883 shares during the period. Weiss Multi Strategy Advisers LLC increased its stake in shares of Rigel Pharmaceuticals by 3.0% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 510,000 shares of the biotechnology company’s stock worth $1,173,000 after purchasing an additional 15,000 shares during the period. Quantitative Systematic Strategies LLC bought a new position in shares of Rigel Pharmaceuticals during the first quarter worth approximately $45,000. Finally, Lido Advisors LLC increased its stake in shares of Rigel Pharmaceuticals by 19.6% during the fourth quarter. Lido Advisors LLC now owns 113,123 shares of the biotechnology company’s stock worth $260,000 after purchasing an additional 18,524 shares during the period. Hedge funds and other institutional investors own 93.04% of the company’s stock.
RIGL has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “buy” rating and set a $7.00 target price on shares of Rigel Pharmaceuticals in a research note on Tuesday, May 7th. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research note on Saturday, May 11th. Finally, BidaskClub upgraded Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $6.60.
Shares of NASDAQ RIGL remained flat at $$2.03 during trading hours on Wednesday. The stock had a trading volume of 42,896 shares, compared to its average volume of 1,823,295. The company has a market capitalization of $338.57 million, a price-to-earnings ratio of -4.60 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.29 and a current ratio of 5.33. Rigel Pharmaceuticals, Inc. has a one year low of $1.96 and a one year high of $3.65.
Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.02. The company had revenue of $12.62 million for the quarter, compared to analyst estimates of $12.00 million. Rigel Pharmaceuticals had a negative return on equity of 58.94% and a negative net margin of 111.48%. During the same quarter last year, the company earned ($0.17) earnings per share. On average, research analysts predict that Rigel Pharmaceuticals, Inc. will post -0.31 earnings per share for the current fiscal year.
Rigel Pharmaceuticals Profile
Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.
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