Jacobs Levy Equity Management Inc. Has $2.87 Million Stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Jacobs Levy Equity Management Inc. lessened its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 25.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,340 shares of the biotechnology company's stock after selling 60,913 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.01% of Rigel Pharmaceuticals worth $2,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ground Swell Capital LLC acquired a new position in Rigel Pharmaceuticals during the second quarter worth approximately $141,000. PDT Partners LLC bought a new stake in shares of Rigel Pharmaceuticals during the 3rd quarter worth about $322,000. BNP Paribas Financial Markets boosted its holdings in shares of 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 during the period. FMR LLC increased its stake in shares of Rigel Pharmaceuticals by 119.4% during 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 during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in Rigel Pharmaceuticals by 34.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company's stock worth $1,205,000 after purchasing an additional 19,094 shares during the last quarter. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Price Performance

RIGL traded down $0.58 on Friday, hitting $25.45. 101,050 shares of the stock were exchanged, compared to its average volume of 315,411. The firm has a market capitalization of $448.17 million, a price-to-earnings ratio of 181.80 and a beta of 1.22. Rigel Pharmaceuticals, Inc. has a 12 month low of $7.48 and a 12 month high of $29.82. The business has a 50-day moving average of $19.62 and a two-hundred day moving average of $14.02.

Analyst Ratings Changes

A number of brokerages have commented on RIGL. Citigroup upped their price objective on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. B. Riley upped their price target on shares of Rigel Pharmaceuticals from $17.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday. Cantor Fitzgerald reiterated a "neutral" rating and issued a $15.00 price objective on shares of Rigel Pharmaceuticals in a research note on Friday, September 20th. Piper Sandler increased their target price on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. 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 analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $34.20.

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.