SG Americas Securities LLC bought a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 21,482 shares of the biotechnology company’s stock, valued at approximately $55,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIGL. HRT Financial LLC acquired a new position in shares of Rigel Pharmaceuticals during the 4th quarter worth about $28,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Rigel Pharmaceuticals during the 1st quarter worth about $45,000. Amalgamated Bank boosted its position in shares of Rigel Pharmaceuticals by 128.4% during the 4th quarter. Amalgamated Bank now owns 24,692 shares of the biotechnology company’s stock worth $57,000 after acquiring an additional 13,883 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Rigel Pharmaceuticals by 780.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 34,942 shares of the biotechnology company’s stock worth $90,000 after acquiring an additional 30,975 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Rigel Pharmaceuticals by 350.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 49,872 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 38,810 shares in the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.
In other Rigel Pharmaceuticals news, CFO Dean L. Schorno acquired 50,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was acquired at an average cost of $2.13 per share, with a total value of $106,500.00. Following the transaction, the chief financial officer now owns 46,726 shares in the company, valued at approximately $99,526.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.96% of the company’s stock.
NASDAQ:RIGL opened at $2.12 on Friday. The stock has a market cap of $342.75 million, a PE ratio of -4.82 and a beta of 1.14. Rigel Pharmaceuticals, Inc. has a 1 year low of $1.96 and a 1 year high of $3.65. The company has a quick ratio of 5.29, a current ratio of 5.33 and a debt-to-equity ratio of 0.26.
Rigel Pharmaceuticals (NASDAQ:RIGL) last released its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. The business had revenue of $12.62 million during the quarter, compared to analysts’ expectations of $12.00 million. Rigel Pharmaceuticals had a negative return on equity of 58.94% and a negative net margin of 111.48%. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, research analysts forecast that Rigel Pharmaceuticals, Inc. will post -0.31 earnings per share for the current year.
RIGL has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $7.00 price objective on shares of Rigel Pharmaceuticals in a research report on Tuesday, May 7th. Zacks Investment Research raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research report on Saturday, May 11th. Finally, BidaskClub raised Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Rigel Pharmaceuticals has an average rating of “Buy” and a consensus price target of $6.60.
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Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; and Phase III clinical study for autoimmune hemolytic anemia.
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