Jane Street Group LLC Has $1.05 Million Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Jane Street Group LLC raised its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 144.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,528 shares of the biotechnology company's stock after acquiring an additional 36,939 shares during the quarter. Jane Street Group LLC owned approximately 0.36% of Rigel Pharmaceuticals worth $1,052,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Rigel Pharmaceuticals by 45.0% in the third 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 boosted its position in Rigel Pharmaceuticals by 42.8% during the 4th 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 period. China Universal Asset Management Co. Ltd. acquired a new stake in Rigel Pharmaceuticals during the 4th quarter worth approximately $63,000. Rhumbline Advisers boosted its position in Rigel Pharmaceuticals by 6.3% during the 4th quarter. Rhumbline Advisers now owns 25,143 shares of the biotechnology company's stock worth $423,000 after buying an additional 1,485 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Rigel Pharmaceuticals by 10.3% during the 4th quarter. Bank of New York Mellon Corp now owns 50,195 shares of the biotechnology company's stock worth $844,000 after purchasing an additional 4,672 shares during the last quarter. Institutional investors and hedge funds own 66.23% of the company's stock.

Rigel Pharmaceuticals Trading Up 4.1%

NASDAQ RIGL opened at $20.94 on Thursday. Rigel Pharmaceuticals, Inc. has a 1-year low of $7.48 and a 1-year high of $29.82. The firm has a market cap of $374.24 million, a PE ratio of 149.58 and a beta of 1.34. The stock has a 50-day moving average of $18.48 and a 200-day moving average of $20.07.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 8th. Citigroup increased their price target on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Cantor Fitzgerald upped their price objective on shares of Rigel Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. B. Riley increased their price target on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.40.

Rigel Pharmaceuticals 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.

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