Assenagon Asset Management S.A. Sells 30,987 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Assenagon Asset Management S.A. cut its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 410,778 shares of the biotechnology company’s stock after selling 30,987 shares during the quarter. Assenagon Asset Management S.A. owned about 2.33% of Rigel Pharmaceuticals worth $6,909,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. PDT Partners LLC bought a new stake in Rigel Pharmaceuticals during the 3rd quarter valued at about $322,000. Los Angeles Capital Management LLC grew its holdings in shares of Rigel Pharmaceuticals by 34.5% during the third quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock valued at $1,205,000 after buying an additional 19,094 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Rigel Pharmaceuticals by 29.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company’s stock valued at $1,586,000 after acquiring an additional 22,443 shares in the last quarter. State Street Corp raised its holdings in 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 acquiring an additional 2,552 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Rigel Pharmaceuticals by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company’s stock valued at $6,468,000 after acquiring an additional 8,881 shares in the last quarter. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

Shares of Rigel Pharmaceuticals stock opened at $20.13 on Monday. The stock’s fifty day moving average is $21.04 and its 200 day moving average is $15.80. Rigel Pharmaceuticals, Inc. has a one year low of $7.48 and a one year high of $29.82. The stock has a market cap of $354.49 million, a P/E ratio of 143.80 and a beta of 1.31.

Analyst Ratings Changes

A number of research firms have commented on RIGL. B. Riley lifted their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. 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. Piper Sandler boosted their price objective on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Rigel Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $36.20.

About Rigel Pharmaceuticals

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.