Los Angeles Capital Management LLC Grows Stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Los Angeles Capital Management LLC increased its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 34.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 74,502 shares of the biotechnology company's stock after purchasing an additional 19,094 shares during the quarter. Los Angeles Capital Management LLC owned 0.42% of Rigel Pharmaceuticals worth $1,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ground Swell Capital LLC bought a new position in shares of Rigel Pharmaceuticals during the second quarter valued at approximately $141,000. Bayesian Capital Management LP grew its position in Rigel Pharmaceuticals by 167.8% in the 1st quarter. Bayesian Capital Management LP now owns 30,480 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 19,100 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Rigel Pharmaceuticals by 24.2% in the first quarter. BNP Paribas Financial Markets now owns 252,955 shares of the biotechnology company's stock worth $374,000 after purchasing an additional 49,223 shares during the period. CM Management LLC lifted its position in shares of Rigel Pharmaceuticals by 17.6% during the first quarter. CM Management LLC now owns 2,000,000 shares of the biotechnology company's stock worth $2,960,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Rigel Pharmaceuticals by 4.6% during the first quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company's stock valued at $13,864,000 after purchasing an additional 414,207 shares during the period. Hedge funds and other institutional investors own 66.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on RIGL. HC Wainwright reaffirmed a "buy" rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research note on Friday, October 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $15.00 price target on shares of Rigel Pharmaceuticals in a research note on Friday, September 20th. StockNews.com raised Rigel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 18th. Piper Sandler upped their target price on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Citigroup raised their price target on Rigel Pharmaceuticals from $40.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.30.

Rigel Pharmaceuticals Trading Down 8.8 %

Shares of RIGL traded down $2.42 during trading hours on Friday, hitting $25.04. The company had a trading volume of 189,506 shares, compared to its average volume of 161,695. The company has a market capitalization of $440.95 million, a PE ratio of 196.16 and a beta of 0.96. Rigel Pharmaceuticals, Inc. has a one year low of $7.48 and a one year high of $29.82. The company's fifty day moving average price is $15.85 and its two-hundred day moving average price is $12.24.

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.