Squarepoint Ops LLC Has $665,000 Stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Squarepoint Ops LLC cut its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 86.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,910 shares of the biotechnology company’s stock after selling 517,414 shares during the quarter. Squarepoint Ops LLC owned about 0.46% of Rigel Pharmaceuticals worth $665,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Rigel Pharmaceuticals in the 1st quarter valued at about $2,012,000. Acadian Asset Management LLC grew its position in shares of Rigel Pharmaceuticals by 18.2% in the first quarter. Acadian Asset Management LLC now owns 5,465,183 shares of the biotechnology company’s stock valued at $8,086,000 after purchasing an additional 843,419 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Rigel Pharmaceuticals by 4.6% during the first quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock worth $13,864,000 after purchasing an additional 414,207 shares during the period. CM Management LLC lifted its holdings in Rigel Pharmaceuticals by 17.6% during the 1st quarter. CM Management LLC now owns 2,000,000 shares of the biotechnology company’s stock worth $2,960,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Rigel Pharmaceuticals by 49.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 603,123 shares of the biotechnology company’s stock valued at $893,000 after purchasing an additional 198,712 shares during the period. 66.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RIGL. Cantor Fitzgerald reiterated a “neutral” rating and set a $15.00 price objective on shares of Rigel Pharmaceuticals in a research report on Friday, September 20th. StockNews.com upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, July 5th. Finally, HC Wainwright restated a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.13.

Rigel Pharmaceuticals Trading Up 2.0 %

Shares of NASDAQ:RIGL opened at $15.70 on Wednesday. The firm has a 50 day moving average of $13.20 and a 200-day moving average of $11.41. Rigel Pharmaceuticals, Inc. has a 12 month low of $7.12 and a 12 month high of $17.30. The stock has a market capitalization of $276.16 million, a PE ratio of -13.08 and a beta of 0.94.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.31. The business had revenue of $36.84 million for the quarter, compared to the consensus estimate of $32.38 million. During the same quarter in the prior year, the company earned ($0.40) earnings per share. On average, research analysts predict that Rigel Pharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Rigel Pharmaceuticals Company 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.