ExodusPoint Capital Management LP Buys New Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

ExodusPoint Capital Management LP purchased a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,483 shares of the biotechnology company's stock, valued at approximately $260,000. ExodusPoint Capital Management LP owned 0.09% of Rigel Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RIGL. Rhumbline Advisers lifted its holdings in shares of Rigel Pharmaceuticals by 6.3% in 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. Geode Capital Management LLC boosted its position in Rigel Pharmaceuticals by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 402,051 shares of the biotechnology company's stock worth $6,764,000 after purchasing an additional 2,388 shares in the last quarter. State Street Corp grew its holdings in Rigel Pharmaceuticals by 0.7% in the third quarter. State Street Corp now owns 367,795 shares of the biotechnology company's stock valued at $5,951,000 after purchasing an additional 2,552 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Rigel Pharmaceuticals by 42.8% in the fourth 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 in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth $63,000. 66.23% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Rigel Pharmaceuticals news, CFO Dean L. Schorno sold 2,036 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $42,593.12. Following the completion of the sale, the chief financial officer now directly owns 58,969 shares in the company, valued at $1,233,631.48. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David A. Santos sold 2,125 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 $44,455.00. Following the completion of the sale, the executive vice president now directly owns 53,500 shares of the company's stock, valued at $1,119,220. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,113 shares of company stock valued at $190,644 over the last quarter. Company insiders own 9.04% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on RIGL. B. Riley raised their target price on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Citigroup lifted their price objective on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. HC Wainwright reissued a "buy" rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. Finally, StockNews.com cut Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.80.

Rigel Pharmaceuticals Trading Down 1.0 %

Shares of Rigel Pharmaceuticals stock traded down $0.17 during trading hours on Tuesday, reaching $17.04. 141,408 shares of the company's stock were exchanged, compared to its average volume of 209,088. The firm has a market capitalization of $304.39 million, a price-to-earnings ratio of 121.72 and a beta of 1.32. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.48 and a 52-week high of $29.82. The company has a fifty day moving average of $19.65 and a 200-day moving average of $19.46.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its quarterly earnings results 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 negative return on equity of 14.80% and a net margin of 2.46%. The company had revenue of $57.60 million during the quarter, compared to analysts' expectations of $57.59 million. On average, equities research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

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.