Jane Street Group LLC Sells 80,271 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Jane Street Group LLC cut its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 75.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,589 shares of the biotechnology company’s stock after selling 80,271 shares during the quarter. Jane Street Group LLC owned about 0.15% of Rigel Pharmaceuticals worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of RIGL. Assenagon Asset Management S.A. bought a new position in Rigel Pharmaceuticals in the third quarter valued at $7,148,000. State Street Corp boosted its holdings in shares of Rigel Pharmaceuticals by 0.7% in the 3rd quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock worth $5,951,000 after purchasing an additional 2,552 shares in the last quarter. Stonepine Capital Management LLC increased its position in shares of Rigel Pharmaceuticals by 1.3% during the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock valued at $5,001,000 after purchasing an additional 4,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 valued at $1,586,000 after buying an additional 22,443 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in 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 worth $1,205,000 after buying an additional 19,094 shares during the last quarter. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RIGL has been the topic of a number of recent research reports. Citigroup increased their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. Piper Sandler boosted their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Tuesday, December 10th. Finally, B. Riley lifted their price objective on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.20.

Rigel Pharmaceuticals Price Performance

NASDAQ:RIGL opened at $17.09 on Wednesday. The business has a 50 day simple moving average of $20.74 and a 200-day simple moving average of $15.31. The firm has a market capitalization of $301.04 million, a price-to-earnings ratio of 122.08 and a beta of 1.31. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82.

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.