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

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Get Free Report) CEO Raul R. Rodriguez sold 4,952 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $103,595.84. Following the sale, the chief executive officer now owns 243,854 shares of the company's stock, valued at $5,101,425.68. The trade was a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rigel Pharmaceuticals Trading Down 2.2 %

Rigel Pharmaceuticals stock traded down $0.48 during midday trading on Monday, hitting $21.46. 217,760 shares of the stock were exchanged, compared to its average volume of 263,452. The stock has a market capitalization of $377.91 million, a price-to-earnings ratio of 153.30 and a beta of 1.34. The stock's 50-day simple moving average is $19.85 and its 200 day simple moving average is $17.12. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $29.82.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in shares of Rigel Pharmaceuticals in the third quarter worth $7,148,000. Geode Capital Management LLC grew its stake in Rigel Pharmaceuticals by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company's stock worth $6,468,000 after purchasing an additional 8,881 shares in the last quarter. State Street Corp raised its position in Rigel Pharmaceuticals by 0.7% in the 3rd 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 in the last quarter. Stonepine Capital Management LLC grew its position in shares of Rigel Pharmaceuticals by 1.3% during the third quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company's stock worth $5,001,000 after buying an additional 4,100 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 valued at $2,340,000 after acquiring an additional 41,122 shares in the last quarter. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RIGL shares. Piper Sandler increased their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. B. Riley upped their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Cantor Fitzgerald raised their price target on shares of Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. HC Wainwright restated a "buy" rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of Rigel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rigel Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $36.20.

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.