Rhumbline Advisers Has $205,000 Holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Rhumbline Advisers trimmed its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 89.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,000 shares of the biotechnology company’s stock after selling 212,943 shares during the period. Rhumbline Advisers owned about 0.14% of Rigel Pharmaceuticals worth $205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its holdings in Rigel Pharmaceuticals by 49.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 603,123 shares of the biotechnology company’s stock valued at $893,000 after purchasing an additional 198,712 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Rigel Pharmaceuticals by 24.2% during the first quarter. BNP Paribas Financial Markets now owns 252,955 shares of the biotechnology company’s stock valued at $374,000 after purchasing an additional 49,223 shares during the period. 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 valued at $13,864,000 after buying 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 valued at $8,086,000 after buying an additional 843,419 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Rigel Pharmaceuticals in the first quarter worth $2,012,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Stock Performance

Rigel Pharmaceuticals stock opened at $16.42 on Friday. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.12 and a 52-week high of $17.30. The firm has a 50 day moving average price of $12.43 and a two-hundred day moving average price of $11.32. The firm has a market cap of $288.83 million, a price-to-earnings ratio of -13.68 and a beta of 0.93.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.31. The company had revenue of $36.84 million for the quarter, compared to analyst estimates of $32.38 million. During the same period last year, the business earned ($0.40) EPS. As a group, equities research analysts predict that Rigel Pharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $15.00 price objective on shares of Rigel Pharmaceuticals in a research report on Friday, September 20th. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 3rd. Finally, StockNews.com raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.13.

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.