Kennedy Capital Management LLC Trims Stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Kennedy Capital Management LLC decreased its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 85.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,418 shares of the biotechnology company's stock after selling 81,131 shares during the period. Kennedy Capital Management LLC owned 0.08% of Rigel Pharmaceuticals worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RIGL. China Universal Asset Management Co. Ltd. bought a new position in Rigel Pharmaceuticals during the fourth quarter worth $63,000. Wells Fargo & Company MN raised its holdings in Rigel Pharmaceuticals by 44.5% during the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock worth $145,000 after buying an additional 2,648 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Rigel Pharmaceuticals by 42.8% during the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock valued at $159,000 after buying an additional 2,827 shares during the last quarter. Integrated Quantitative Investments LLC acquired a new stake in shares of Rigel Pharmaceuticals in the 4th quarter worth about $181,000. Finally, Prudential Financial Inc. bought a new position in Rigel Pharmaceuticals in the 4th quarter valued at about $197,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on RIGL. B. Riley upped their price target on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Citigroup boosted their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. HC Wainwright reiterated a "buy" rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. Finally, StockNews.com downgraded Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.80.

Rigel Pharmaceuticals Stock Up 0.4 %

RIGL traded up $0.07 during trading hours on Monday, hitting $16.92. The stock had a trading volume of 25,768 shares, compared to its average volume of 209,868. The stock has a market cap of $302.33 million, a PE ratio of 120.30 and a beta of 1.32. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82. The company's fifty day simple moving average is $19.37 and its 200 day simple moving average is $19.49.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.30 by $0.50. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. The business had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.59 million. As a group, equities analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other news, CFO Dean L. Schorno sold 2,036 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $42,593.12. Following the transaction, the chief financial officer now owns 58,969 shares of the company's stock, valued at $1,233,631.48. This represents a 3.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Raul R. Rodriguez sold 4,952 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $103,595.84. Following the sale, the chief executive officer now owns 243,854 shares in the company, valued at $5,101,425.68. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,113 shares of company stock worth $190,644. Corporate insiders own 9.04% of the company's stock.

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.