Los Angeles Capital Management LLC increased its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Free Report) by 49.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 603,123 shares of the biotechnology company’s stock after acquiring an additional 198,712 shares during the period. Los Angeles Capital Management LLC owned about 0.34% of Rigel Pharmaceuticals worth $893,000 as of its most recent SEC filing.
Separately, SG Americas Securities LLC increased its stake in Rigel Pharmaceuticals by 57.7% in the 4th quarter. SG Americas Securities LLC now owns 49,673 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 18,180 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors and hedge funds.
Rigel Pharmaceuticals Stock Up 0.7 %
Shares of RIGL stock opened at $0.96 on Tuesday. The company has a 50-day simple moving average of $1.01 and a 200 day simple moving average of $1.22. Rigel Pharmaceuticals, Inc. has a 52 week low of $0.71 and a 52 week high of $1.73.
Wall Street Analyst Weigh In
RIGL has been the topic of several recent research reports. Cantor Fitzgerald lifted their price target on shares of Rigel Pharmaceuticals from $2.00 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. B. Riley reissued a “neutral” rating and issued a $1.25 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 6th. StockNews.com raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Citigroup lifted their price objective on shares of Rigel Pharmaceuticals from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Rigel Pharmaceuticals in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.81.
Read Our Latest Research Report on RIGL
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.
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