Catalyst Funds Management Pty Ltd Acquires 21,000 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Catalyst Funds Management Pty Ltd lifted its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 777.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,700 shares of the biotechnology company’s stock after purchasing an additional 21,000 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Rigel Pharmaceuticals were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RIGL. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rigel Pharmaceuticals by 42.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 139,128 shares of the biotechnology company’s stock worth $2,340,000 after purchasing an additional 41,122 shares in the last quarter. FMR LLC lifted its position in shares of Rigel Pharmaceuticals by 119.4% in the third quarter. FMR LLC now owns 48,105 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 26,184 shares in the last quarter. PDT Partners LLC bought a new stake in shares of Rigel Pharmaceuticals in the third quarter worth $322,000. BNP Paribas Financial Markets raised its position in Rigel Pharmaceuticals by 1,199.2% during the third quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company’s stock worth $340,000 after acquiring an additional 19,391 shares in the last quarter. Finally, Barclays PLC raised its position in Rigel Pharmaceuticals by 158.6% during the third quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after acquiring an additional 16,772 shares in the last quarter. Institutional investors own 66.23% of the company’s stock.

Insider Activity at Rigel Pharmaceuticals

In related news, CFO Dean L. Schorno sold 2,036 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $42,593.12. Following the transaction, the chief financial officer now directly owns 58,969 shares in the company, valued at approximately $1,233,631.48. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David A. Santos sold 2,125 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $44,455.00. Following the completion of the transaction, the executive vice president now owns 53,500 shares in the company, valued at $1,119,220. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,113 shares of company stock worth $190,644. Corporate insiders own 9.04% of the company’s stock.

Rigel Pharmaceuticals Price Performance

NASDAQ:RIGL opened at $20.13 on Friday. Rigel Pharmaceuticals, Inc. has a one year low of $7.48 and a one year high of $29.82. The company has a market cap of $359.58 million, a P/E ratio of 143.80 and a beta of 1.35. The firm’s fifty day moving average price is $20.51 and its two-hundred day moving average price is $18.77.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.30 by $0.50. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The firm had revenue of $57.60 million for the quarter, compared to the consensus estimate of $57.59 million. As a group, equities research analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. B. Riley upped their price target on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald upped their price target on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com lowered shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, Citigroup upped their price target on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.80.

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.