Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Stock Holdings Lessened by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC decreased its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,870 shares of the biotechnology company’s stock after selling 1,670 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.36% of Rigel Pharmaceuticals worth $1,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Barclays PLC grew its stake in Rigel Pharmaceuticals by 158.6% during the 3rd quarter. Barclays PLC now owns 27,345 shares of the biotechnology company’s stock worth $442,000 after buying an additional 16,772 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Rigel Pharmaceuticals by 45.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,238 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 8,140 shares during the period. SG Americas Securities LLC grew its position in Rigel Pharmaceuticals by 42.8% in the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 2,827 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Rigel Pharmaceuticals in the fourth quarter valued at approximately $63,000. Finally, Rhumbline Advisers raised its holdings in shares of Rigel Pharmaceuticals by 6.3% during the fourth quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company’s stock valued at $423,000 after buying an additional 1,485 shares during the last quarter. Institutional investors and hedge funds own 66.23% of the company’s stock.

Rigel Pharmaceuticals Stock Performance

Shares of NASDAQ:RIGL opened at $18.81 on Friday. The company has a market capitalization of $336.08 million, a PE ratio of 134.37 and a beta of 1.34. The stock has a fifty day moving average of $18.57 and a 200-day moving average of $19.82. Rigel Pharmaceuticals, Inc. has a one year low of $7.48 and a one year high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.14 by $0.49. The business had revenue of $53.33 million during the quarter, compared to the consensus estimate of $43.87 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. During the same period in the prior year, the business posted ($0.50) earnings per share. As a group, research analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. B. Riley raised their target price on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. StockNews.com cut shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 8th. Citigroup upped their price target on shares of 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 objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald upped their target price on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

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.