Raul R. Rodriguez Sells 4,952 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) CEO Raul R. Rodriguez sold 4,952 shares of the firm’s stock in a transaction dated 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 approximately $5,101,425.68. The trade was a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock opened at $24.39 on Friday. The business has a 50 day moving average price of $19.96 and a 200 day moving average price of $16.95. The company has a market capitalization of $429.51 million, a P/E ratio of 174.23 and a beta of 1.34. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.69. The company had revenue of $55.31 million during the quarter, compared to the consensus estimate of $40.69 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. During the same period in the previous year, the firm posted ($0.30) EPS. As a group, research analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Rigel Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC grew its stake in shares of Rigel Pharmaceuticals by 15.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 86,001 shares of the biotechnology company’s stock valued at $1,447,000 after buying an additional 11,499 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Rigel Pharmaceuticals by 10.3% during the 4th quarter. Bank of New York Mellon Corp now owns 50,195 shares of the biotechnology company’s stock valued at $844,000 after buying an additional 4,672 shares during the period. Rhumbline Advisers grew its stake in shares of Rigel Pharmaceuticals by 6.3% during the 4th quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company’s stock valued at $423,000 after buying an additional 1,485 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Rigel Pharmaceuticals during the 4th quarter valued at $63,000. Finally, SG Americas Securities LLC grew its stake in shares of Rigel Pharmaceuticals by 42.8% during the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 2,827 shares during the period. 66.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RIGL has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, January 22nd. StockNews.com raised Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, October 18th. B. Riley raised their price target on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler lifted their price objective on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Citigroup lifted their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rigel Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

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.