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

Catalyst Funds Management Pty Ltd boosted its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 777.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,700 shares of the biotechnology company's stock after purchasing an additional 21,000 shares during the period. Catalyst Funds Management Pty Ltd owned about 0.13% of Rigel Pharmaceuticals worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIGL. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Rigel Pharmaceuticals in the 4th quarter worth about $63,000. SG Americas Securities LLC raised its stake in Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock worth $159,000 after buying an additional 2,827 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Rigel Pharmaceuticals in the third quarter worth about $193,000. Empire Financial Management Company LLC bought a new stake in Rigel Pharmaceuticals during the 3rd quarter valued at approximately $231,000. Finally, PDT Partners LLC purchased a new position in shares of Rigel Pharmaceuticals during the 3rd quarter worth approximately $322,000. Institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Stock Performance

Shares of RIGL traded down $0.07 during trading hours on Thursday, hitting $20.37. The company had a trading volume of 238,588 shares, compared to its average volume of 199,603. The stock has a market capitalization of $363.87 million, a price-to-earnings ratio of 145.51 and a beta of 1.35. The firm has a fifty day moving average price of $20.75 and a 200-day moving average price of $18.92. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.48 and a 52-week high of $29.82.

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Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, topping 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 business had revenue of $57.60 million during the quarter, compared to analysts' expectations of $57.59 million. Research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on RIGL. B. Riley raised their target price on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald raised their price objective on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. StockNews.com downgraded shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th. Citigroup lifted their price target on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, HC Wainwright reissued a "buy" rating and set a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.80.

Insider Activity at Rigel Pharmaceuticals

In related news, 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 transaction of $103,595.84. Following the sale, the chief executive officer now directly owns 243,854 shares of the company's stock, valued at $5,101,425.68. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $44,455.00. Following the completion of the sale, the executive vice president now owns 53,500 shares of the company's stock, valued at $1,119,220. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,113 shares of company stock valued at $190,644. 9.04% of the stock is owned by corporate insiders.

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.