21,621 Shares in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Purchased by Walleye Capital LLC

Walleye Capital LLC acquired a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,621 shares of the biotechnology company's stock, valued at approximately $364,000. Walleye Capital LLC owned 0.12% of Rigel Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in Rigel Pharmaceuticals in the 4th quarter valued at $63,000. Wells Fargo & Company MN lifted its holdings in shares of Rigel Pharmaceuticals by 44.5% in the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock valued at $145,000 after purchasing an additional 2,648 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock valued at $159,000 after purchasing an additional 2,827 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new position in shares of Rigel Pharmaceuticals during the fourth quarter worth about $181,000. Finally, XTX Topco Ltd bought a new position in shares of Rigel Pharmaceuticals during the fourth quarter worth about $184,000. 66.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. Citigroup raised their target price on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. B. Riley boosted their price target on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Finally, StockNews.com cut Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Rigel Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $36.80.

Rigel Pharmaceuticals Trading Up 0.7 %

Shares of RIGL traded up $0.13 during midday trading on Monday, reaching $19.41. The stock had a trading volume of 106,672 shares, compared to its average volume of 207,766. The firm has a market cap of $346.80 million, a PE ratio of 138.65 and a beta of 1.32. The firm has a 50 day simple moving average of $19.08 and a 200-day simple moving average of $19.58. Rigel Pharmaceuticals, Inc. has a one year low of $7.48 and a one year high of $29.82.

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

Insider Transactions at Rigel Pharmaceuticals

In other news, EVP David A. Santos sold 2,125 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $44,455.00. Following the transaction, the executive vice president now owns 53,500 shares in the company, valued at approximately $1,119,220. This trade represents a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dean L. Schorno sold 2,036 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 in the company, valued at $1,233,631.48. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,113 shares of company stock worth $190,644. 9.04% of the stock is owned by company insiders.

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.