441,765 Shares in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 441,765 shares of the biotechnology company's stock, valued at approximately $7,148,000. Assenagon Asset Management S.A. owned 2.51% of Rigel Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ground Swell Capital LLC bought a new stake in Rigel Pharmaceuticals during the 2nd quarter worth approximately $141,000. Vanguard Group Inc. increased its holdings in shares of Rigel Pharmaceuticals by 4.6% in the first quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company's stock worth $13,864,000 after purchasing an additional 414,207 shares during the period. Bayesian Capital Management LP raised its position in shares of Rigel Pharmaceuticals by 167.8% in the first quarter. Bayesian Capital Management LP now owns 30,480 shares of the biotechnology company's stock worth $45,000 after buying an additional 19,100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Rigel Pharmaceuticals during the first quarter valued at $2,012,000. Finally, BNP Paribas Financial Markets grew its position in Rigel Pharmaceuticals by 24.2% during the first quarter. BNP Paribas Financial Markets now owns 252,955 shares of the biotechnology company's stock worth $374,000 after buying an additional 49,223 shares in the last quarter. 66.23% of the stock is owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Stock Down 1.2 %

Shares of NASDAQ RIGL traded down $0.18 during trading hours on Tuesday, reaching $14.34. 51,655 shares of the stock traded hands, compared to its average volume of 149,807. The company's 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $11.56. The company has a market capitalization of $251.78 million, a P/E ratio of -11.95 and a beta of 0.94. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.28 and a 52-week high of $17.30.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.31. The business had revenue of $36.84 million during the quarter, compared to the consensus estimate of $32.38 million. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. As a group, sell-side analysts forecast that Rigel Pharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reiterated a "neutral" rating and set a $15.00 price target on shares of Rigel Pharmaceuticals in a research report on Friday, September 20th. StockNews.com upgraded shares of Rigel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a report on Friday. Two investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

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.