Renaissance Technologies LLC Decreases Stock Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Renaissance Technologies LLC reduced its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 92.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,946 shares of the biotechnology company’s stock after selling 1,875,245 shares during the quarter. Renaissance Technologies LLC owned approximately 0.83% of Rigel Pharmaceuticals worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Rigel Pharmaceuticals by 4.6% in the first quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock worth $13,864,000 after acquiring an additional 414,207 shares during the period. Acadian Asset Management LLC boosted its holdings 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 worth $8,086,000 after acquiring an additional 843,419 shares during the period. CM Management LLC boosted its holdings in shares of Rigel Pharmaceuticals by 17.6% in the first quarter. CM Management LLC now owns 2,000,000 shares of the biotechnology company’s stock worth $2,960,000 after acquiring an additional 300,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Rigel Pharmaceuticals in the first quarter worth $2,012,000. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Rigel Pharmaceuticals by 49.1% in the first quarter. Los Angeles Capital Management LLC now owns 603,123 shares of the biotechnology company’s stock worth $893,000 after acquiring an additional 198,712 shares during the period. 66.23% of the stock is owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Stock Performance

NASDAQ RIGL opened at $16.04 on Friday. The stock’s 50-day simple moving average is $13.00 and its two-hundred day simple moving average is $11.43. Rigel Pharmaceuticals, Inc. has a twelve month low of $7.12 and a twelve month high of $17.30.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.31. The company had revenue of $36.84 million during the quarter, compared to the consensus estimate of $32.38 million. During the same period last year, the firm posted ($0.40) EPS. Research analysts predict that Rigel Pharmaceuticals, Inc. will post -0.72 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.