Raul R. Rodriguez Sells 4,952 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) CEO Raul R. Rodriguez sold 4,952 shares of Rigel Pharmaceuticals stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $103,595.84. Following the completion of the sale, the chief executive officer now owns 243,854 shares in the company, valued at $5,101,425.68. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL stock opened at $21.94 on Friday. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The company has a 50 day moving average price of $19.85 and a 200 day moving average price of $17.03. The stock has a market capitalization of $386.47 million, a P/E ratio of 156.73 and a beta of 1.34.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.69. The business had revenue of $55.31 million for the quarter, compared to analyst estimates of $40.69 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. During the same quarter in the prior year, the company earned ($0.30) earnings per share. On average, research analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC boosted its stake in shares of 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 buying an additional 11,499 shares during the period. Bank of New York Mellon Corp raised its holdings in Rigel Pharmaceuticals by 10.3% in the fourth quarter. Bank of New York Mellon Corp now owns 50,195 shares of the biotechnology company’s stock valued at $844,000 after acquiring an additional 4,672 shares in the last quarter. Rhumbline Advisers lifted its stake in Rigel Pharmaceuticals by 6.3% in the fourth quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company’s stock worth $423,000 after acquiring an additional 1,485 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Rigel Pharmaceuticals during the 4th quarter worth approximately $63,000. Finally, SG Americas Securities LLC increased its position in shares of Rigel Pharmaceuticals by 42.8% in the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 2,827 shares during the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup raised their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 22nd. Piper Sandler increased their price objective on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Finally, B. Riley raised their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

About Rigel Pharmaceuticals

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.