Barclays PLC Boosts Stock Holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Barclays PLC grew its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 158.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,345 shares of the biotechnology company’s stock after buying an additional 16,772 shares during the period. Barclays PLC owned 0.16% of Rigel Pharmaceuticals worth $442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RIGL. Ground Swell Capital LLC purchased a new stake in Rigel Pharmaceuticals during the second quarter valued at about $141,000. Assenagon Asset Management S.A. acquired a new position in shares of Rigel Pharmaceuticals in the 3rd quarter valued at about $7,148,000. Los Angeles Capital Management LLC lifted its stake in shares of Rigel Pharmaceuticals by 34.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock valued at $1,205,000 after purchasing an additional 19,094 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Rigel Pharmaceuticals by 29.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company’s stock worth $1,586,000 after purchasing an additional 22,443 shares in the last quarter. Finally, FMR LLC raised its holdings in Rigel Pharmaceuticals by 119.4% in the third quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 26,184 shares during the period. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Price Performance

Shares of RIGL stock opened at $17.38 on Friday. The company’s fifty day moving average price is $20.65 and its two-hundred day moving average price is $15.12. The firm has a market capitalization of $306.15 million, a P/E ratio of 124.15 and a beta of 1.22. Rigel Pharmaceuticals, Inc. has a 12 month low of $7.48 and a 12 month high of $29.82.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RIGL. Cantor Fitzgerald boosted their price objective on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Citigroup upped their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Piper Sandler raised their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.20.

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.