Jane Street Group LLC Lowers Holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Jane Street Group LLC cut its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 75.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,589 shares of the biotechnology company's stock after selling 80,271 shares during the period. Jane Street Group LLC owned approximately 0.15% of Rigel Pharmaceuticals worth $414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Rigel Pharmaceuticals by 0.7% in the third quarter. State Street Corp now owns 367,795 shares of the biotechnology company's stock worth $5,951,000 after acquiring an additional 2,552 shares during the period. PDT Partners LLC bought a new stake in Rigel Pharmaceuticals in the 3rd quarter worth approximately $322,000. Stonepine Capital Management LLC lifted its holdings in shares of Rigel Pharmaceuticals by 1.3% during the 3rd quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company's stock valued at $5,001,000 after buying an additional 4,100 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Rigel Pharmaceuticals by 1,199.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,008 shares of the biotechnology company's stock worth $340,000 after buying an additional 19,391 shares during the last quarter. Finally, FMR LLC grew its holdings 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 acquiring an additional 26,184 shares during the period. Institutional investors own 66.23% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rigel Pharmaceuticals Stock Down 4.9 %

NASDAQ:RIGL traded down $0.84 during trading hours on Wednesday, hitting $16.25. 239,400 shares of the stock traded hands, compared to its average volume of 237,520. The company has a market cap of $286.24 million, a price-to-earnings ratio of 116.08 and a beta of 1.31. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82. The stock has a 50 day moving average price of $20.74 and a 200 day moving average price of $15.31.

Rigel Pharmaceuticals 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.