Geode Capital Management LLC Buys 8,881 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Geode Capital Management LLC raised its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 399,663 shares of the biotechnology company’s stock after acquiring an additional 8,881 shares during the quarter. Geode Capital Management LLC owned approximately 2.27% of Rigel Pharmaceuticals worth $6,468,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ground Swell Capital LLC bought a new stake in Rigel Pharmaceuticals during the second quarter worth about $141,000. PDT Partners LLC acquired a new position in shares of Rigel Pharmaceuticals in the 3rd quarter worth approximately $322,000. BNP Paribas Financial Markets boosted its holdings in shares of Rigel Pharmaceuticals by 1,199.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after acquiring an additional 19,391 shares in the last quarter. Barclays PLC grew its position in Rigel Pharmaceuticals by 158.6% during the 3rd quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after acquiring an additional 16,772 shares during the last quarter. Finally, FMR LLC increased its holdings in Rigel Pharmaceuticals by 119.4% during the 3rd quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 26,184 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Stock Up 0.3 %

Shares of Rigel Pharmaceuticals stock opened at $17.38 on Friday. The business has a fifty day simple moving average of $20.65 and a 200 day simple moving average of $15.12. The stock has a market cap of $306.15 million, a PE 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 Analyst Weigh In

Several analysts have recently commented on RIGL shares. StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. 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 report on Thursday, November 14th. B. Riley boosted their target price on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a research report on Tuesday, December 10th. Finally, Citigroup raised their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Three investment 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 stock. Based on data from MarketBeat, Rigel Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

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.