Quantitative Systematic Strategies LLC Has $83,000 Stock Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Quantitative Systematic Strategies LLC lifted its position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 82.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,694 shares of the biotechnology company’s stock after buying an additional 14,362 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Rigel Pharmaceuticals were worth $83,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RIGL. SG Americas Securities LLC acquired a new stake in shares of Rigel Pharmaceuticals during the first quarter worth $55,000. Amalgamated Bank lifted its holdings 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 buying an additional 13,883 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Rigel Pharmaceuticals during the first quarter worth $89,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Rigel Pharmaceuticals by 780.8% during the first quarter. BNP Paribas Arbitrage SA now owns 34,942 shares of the biotechnology company’s stock worth $90,000 after buying an additional 30,975 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Rigel Pharmaceuticals by 350.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 49,872 shares of the biotechnology company’s stock worth $115,000 after buying an additional 38,810 shares in the last quarter. 93.04% of the stock is owned by institutional investors.

RIGL stock traded down $0.07 during midday trading on Friday, reaching $2.14. The company had a trading volume of 942,597 shares, compared to its average volume of 923,246. The stock has a market capitalization of $379.53 million, a P/E ratio of -4.86 and a beta of 1.22. The company’s 50 day simple moving average is $2.40. Rigel Pharmaceuticals, Inc. has a 1-year low of $1.96 and a 1-year high of $3.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.39 and a quick ratio of 5.29.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. The business had revenue of $10.41 million during the quarter, compared to the consensus estimate of $9.25 million. Rigel Pharmaceuticals had a negative return on equity of 60.72% and a negative net margin of 89.34%. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. Research analysts anticipate that Rigel Pharmaceuticals, Inc. will post -0.29 EPS for the current year.

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “buy” rating and set a $7.00 target price on shares of Rigel Pharmaceuticals in a report on Tuesday, May 7th. Zacks Investment Research downgraded Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Finally, BidaskClub raised Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $6.65.

In other Rigel Pharmaceuticals news, CFO Dean L. Schorno bought 50,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $2.13 per share, with a total value of $106,500.00. Following the completion of the purchase, the chief financial officer now owns 46,726 shares in the company, valued at $99,526.38. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 4.96% of the stock is currently owned by insiders.

About Rigel Pharmaceuticals

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.

See Also: What is the balance sheet?

Institutional Ownership by Quarter for Rigel Pharmaceuticals (NASDAQ:RIGL)

Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.