Jackson Creek Investment Advisors LLC Purchases New Stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Jackson Creek Investment Advisors LLC bought a new position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 38,045 shares of the biotechnology company's stock, valued at approximately $684,000. Jackson Creek Investment Advisors LLC owned approximately 0.21% of Rigel Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RIGL. Dimensional Fund Advisors LP purchased a new stake in shares of Rigel Pharmaceuticals during the 4th quarter worth $288,000. Two Sigma Investments LP acquired a new stake in Rigel Pharmaceuticals in the fourth quarter valued at $1,025,000. Deutsche Bank AG lifted its holdings in Rigel Pharmaceuticals by 100.5% during the 4th quarter. Deutsche Bank AG now owns 13,744 shares of the biotechnology company's stock worth $231,000 after buying an additional 6,890 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Rigel Pharmaceuticals by 587.9% during the 4th quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company's stock worth $3,036,000 after acquiring an additional 154,254 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Rigel Pharmaceuticals in the 4th quarter valued at about $588,000. Institutional investors and hedge funds own 66.23% of the company's stock.

Rigel Pharmaceuticals Price Performance

Rigel Pharmaceuticals stock traded up $0.47 during mid-day trading on Tuesday, reaching $20.06. The company had a trading volume of 192,116 shares, compared to its average volume of 211,585. The stock's 50-day simple moving average is $19.53 and its 200-day simple moving average is $19.49. Rigel Pharmaceuticals, Inc. has a 1 year low of $8.61 and a 1 year high of $29.82. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.20 and a quick ratio of 2.13. The company has a market capitalization of $358.51 million, a P/E ratio of 9.69 and a beta of 1.26.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.49. The firm 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 655.26% and a net margin of 18.31%. During the same period in the previous year, the firm posted ($0.50) EPS. On average, equities analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald boosted their target price on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.40.

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.