Los Angeles Capital Management LLC Buys 11,499 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Los Angeles Capital Management LLC increased its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 15.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 86,001 shares of the biotechnology company’s stock after purchasing an additional 11,499 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Rigel Pharmaceuticals were worth $1,447,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RIGL. FMR LLC increased its position in shares of 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position 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 purchasing an additional 22,443 shares during the last quarter. PDT Partners LLC bought a new position in shares of Rigel Pharmaceuticals during the 3rd quarter valued at approximately $322,000. BNP Paribas Financial Markets increased its position in shares of Rigel Pharmaceuticals by 1,199.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock valued at $340,000 after purchasing an additional 19,391 shares during the last quarter. Finally, Barclays PLC grew its position in Rigel Pharmaceuticals by 158.6% in the 3rd quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock valued at $442,000 after acquiring an additional 16,772 shares during the last quarter. Institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Trading Up 5.9 %

RIGL opened at $23.06 on Friday. Rigel Pharmaceuticals, Inc. has a 12-month low of $7.48 and a 12-month high of $29.82. The business’s fifty day simple moving average is $19.79 and its 200-day simple moving average is $18.18. The company has a market capitalization of $406.20 million, a price-to-earnings ratio of 164.73 and a beta of 1.34.

Analyst Ratings Changes

RIGL has been the topic of several research analyst reports. Citigroup upped their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. B. Riley upped their price objective on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. StockNews.com downgraded Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Wednesday, January 22nd. Finally, Piper Sandler upped their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Insider Transactions at Rigel Pharmaceuticals

In other news, EVP David A. Santos sold 2,125 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $44,455.00. Following the transaction, the executive vice president now owns 53,500 shares of the company’s stock, valued at approximately $1,119,220. This represents a 3.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raul R. Rodriguez sold 4,952 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $103,595.84. Following the transaction, the chief executive officer now directly owns 243,854 shares in the company, valued at $5,101,425.68. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,113 shares of company stock valued at $190,644. 9.04% of the stock is currently owned by corporate insiders.

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.