Walleye Capital LLC Makes New Investment in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Walleye Capital LLC bought a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,621 shares of the biotechnology company’s stock, valued at approximately $364,000. Walleye Capital LLC owned approximately 0.12% of Rigel Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Rigel Pharmaceuticals during the fourth quarter worth approximately $63,000. Wells Fargo & Company MN boosted its stake in shares of 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 period. 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 worth $159,000 after buying an additional 2,827 shares during the last quarter. Integrated Quantitative Investments LLC acquired a new position in Rigel Pharmaceuticals in the 4th quarter valued at about $181,000. Finally, XTX Topco Ltd purchased a new stake in Rigel Pharmaceuticals during the 4th quarter valued at approximately $184,000. 66.23% of the stock is owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Stock Up 5.0 %

Shares of RIGL opened at $19.06 on Friday. Rigel Pharmaceuticals, Inc. has a 52-week low of $7.48 and a 52-week high of $29.82. The company has a 50-day simple moving average of $19.11 and a 200-day simple moving average of $19.50. The company has a market capitalization of $340.55 million, a PE ratio of 136.15 and a beta of 1.32.

Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.30 by $0.50. The business had revenue of $57.60 million for the quarter, compared to analyst estimates of $57.59 million. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. On average, research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

RIGL has been the topic of a number of recent research reports. Citigroup boosted their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, March 6th. B. Riley upped their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. Finally, StockNews.com cut shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Insider Activity

In other news, EVP David A. Santos sold 2,125 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total transaction of $44,455.00. Following the completion of the sale, the executive vice president now directly owns 53,500 shares of the company’s stock, valued at $1,119,220. The trade was a 3.82 % 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 stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $103,595.84. Following the completion of the transaction, the chief executive officer now directly owns 243,854 shares in the company, valued at $5,101,425.68. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,113 shares of company stock valued at $190,644 in the last 90 days. 9.04% of the stock is currently owned by 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.