Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 80.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,053 shares of the biotechnology company's stock after selling 92,110 shares during the period. Nuveen Asset Management LLC owned 0.13% of Rigel Pharmaceuticals worth $388,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RIGL. Wells Fargo & Company MN increased its position 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 buying an additional 2,648 shares during the period. SG Americas Securities LLC increased 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 valued at $159,000 after purchasing an additional 2,827 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Rigel Pharmaceuticals during the fourth quarter valued at $170,000. Integrated Quantitative Investments LLC acquired a new position in shares of Rigel Pharmaceuticals during the fourth quarter valued at $181,000. Finally, XTX Topco Ltd acquired a new position in shares of Rigel Pharmaceuticals during the fourth quarter valued at $184,000. 66.23% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Stock Performance

RIGL opened at $20.97 on Friday. The business has a 50 day moving average price of $18.52 and a 200 day moving average price of $19.95. Rigel Pharmaceuticals, Inc. has a twelve month low of $7.48 and a twelve month high of $29.82. The firm has a market cap of $374.78 million, a P/E ratio of 149.80 and a beta of 1.34.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $53.33 million during the quarter, compared to analyst estimates of $43.87 million. During the same period in the previous year, the company earned ($0.50) EPS. As a group, analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RIGL has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th. Cantor Fitzgerald lifted their target price on Rigel Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. B. Riley lifted their target price on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. Finally, Citigroup lifted their target price on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research note 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.40.

Rigel Pharmaceuticals Company 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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