Fmr LLC Increases Stock Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Fmr LLC grew its position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 119.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,105 shares of the biotechnology company’s stock after buying an additional 26,184 shares during the quarter. Fmr LLC’s holdings in Rigel Pharmaceuticals were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RIGL. Los Angeles Capital Management LLC boosted its holdings in shares of Rigel Pharmaceuticals by 34.5% in 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. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 worth $1,586,000 after purchasing an additional 22,443 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Rigel Pharmaceuticals in the 3rd quarter worth approximately $7,148,000. Finally, Ground Swell Capital LLC purchased a new position in Rigel Pharmaceuticals in the second quarter valued at approximately $141,000. Hedge funds and other institutional investors own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Down 3.6 %

RIGL opened at $18.45 on Wednesday. Rigel Pharmaceuticals, Inc. has a 52 week low of $7.48 and a 52 week high of $29.82. The stock has a market cap of $325.00 million, a PE ratio of 131.79 and a beta of 1.22. The business has a 50 day moving average of $20.14 and a 200-day moving average of $14.54.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RIGL shares. Cantor Fitzgerald lifted their price objective on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Tuesday, December 10th. B. Riley upped their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.20.

Rigel Pharmaceuticals 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.