Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Position Boosted by Jane Street Group LLC

Jane Street Group LLC increased its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 144.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,528 shares of the biotechnology company's stock after purchasing an additional 36,939 shares during the quarter. Jane Street Group LLC owned about 0.36% of Rigel Pharmaceuticals worth $1,052,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in Rigel Pharmaceuticals by 6.3% in the fourth quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company's stock worth $423,000 after purchasing an additional 1,485 shares during the period. Northern Trust Corp lifted its holdings in Rigel Pharmaceuticals by 1.1% in the fourth quarter. Northern Trust Corp now owns 145,839 shares of the biotechnology company's stock worth $2,453,000 after purchasing an additional 1,588 shares during the period. MetLife Investment Management LLC lifted its holdings in Rigel Pharmaceuticals by 19.7% in the fourth quarter. MetLife Investment Management LLC now owns 12,258 shares of the biotechnology company's stock worth $206,000 after purchasing an additional 2,014 shares during the period. Geode Capital Management LLC lifted its holdings in Rigel Pharmaceuticals by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 402,051 shares of the biotechnology company's stock worth $6,764,000 after purchasing an additional 2,388 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Rigel Pharmaceuticals by 44.5% in the fourth quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock worth $145,000 after purchasing an additional 2,648 shares during the period. Institutional investors and hedge funds own 66.23% of the company's stock.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL traded up $0.67 on Tuesday, hitting $19.62. 169,426 shares of the company were exchanged, compared to its average volume of 217,589. The company's 50 day moving average price is $18.38 and its 200-day moving average price is $20.19. The firm has a market capitalization of $350.65 million, a P/E ratio of 140.15 and a beta of 1.34. Rigel Pharmaceuticals, Inc. has a twelve month low of $7.48 and a twelve month high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted 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 for 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 quarter in the previous year, the company earned ($0.50) EPS. As a group, equities analysts expect that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RIGL shares. HC Wainwright reiterated a "buy" rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 5th. 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. Cantor Fitzgerald boosted their price target on shares of Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Wall Street Zen cut shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th. Finally, Citigroup boosted their price target on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Rigel Pharmaceuticals 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.