State Street Corp Acquires 2,552 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

State Street Corp boosted its position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 367,795 shares of the biotechnology company’s stock after buying an additional 2,552 shares during the quarter. State Street Corp owned 2.09% of Rigel Pharmaceuticals worth $5,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in Rigel Pharmaceuticals in the 3rd quarter worth about $7,148,000. Stonepine Capital Management LLC raised its holdings in Rigel Pharmaceuticals by 1.3% in the third quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock worth $5,001,000 after purchasing an additional 4,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 during the last quarter. Los Angeles Capital Management LLC grew its stake in Rigel Pharmaceuticals by 34.5% during 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. Finally, FMR LLC raised its position in shares of Rigel Pharmaceuticals by 119.4% in 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 during the last quarter. 66.23% of the stock is owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Trading Down 4.4 %

Shares of NASDAQ:RIGL opened at $16.50 on Friday. The firm has a 50 day simple moving average of $20.41 and a 200-day simple moving average of $14.91. Rigel Pharmaceuticals, Inc. has a twelve month low of $7.48 and a twelve month high of $29.82. The company has a market capitalization of $290.65 million, a PE ratio of 117.87 and a beta of 1.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RIGL shares. B. Riley raised their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Piper Sandler lifted their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Cantor Fitzgerald increased their price objective on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. StockNews.com upgraded shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Finally, Citigroup raised their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. 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 MarketBeat.com, the company presently has a consensus 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.