GAMMA Investing LLC Has $312,000 Stock Position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

GAMMA Investing LLC increased its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 20,566.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,360 shares of the biotechnology company's stock after purchasing an additional 17,276 shares during the quarter. GAMMA Investing LLC owned 0.10% of Rigel Pharmaceuticals worth $312,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Soleus Capital Management L.P. increased its stake in Rigel Pharmaceuticals by 21.0% during the 4th quarter. Soleus Capital Management L.P. now owns 1,130,679 shares of the biotechnology company's stock worth $19,018,000 after purchasing an additional 195,891 shares in the last quarter. Vanguard Group Inc. increased its stake in Rigel Pharmaceuticals by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 1,012,931 shares of the biotechnology company's stock worth $17,038,000 after purchasing an additional 27,640 shares in the last quarter. Geode Capital Management LLC increased its stake in Rigel Pharmaceuticals by 0.6% during the 4th 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 in the last quarter. Renaissance Technologies LLC increased its stake in Rigel Pharmaceuticals by 111.1% during the 4th quarter. Renaissance Technologies LLC now owns 299,709 shares of the biotechnology company's stock worth $5,041,000 after purchasing an additional 157,763 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Rigel Pharmaceuticals by 14.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 202,089 shares of the biotechnology company's stock worth $3,399,000 after purchasing an additional 24,749 shares in the last quarter. 66.23% of the stock is owned by institutional investors.

Rigel Pharmaceuticals Stock Performance

RIGL stock traded down $0.43 during trading hours on Friday, reaching $18.93. The stock had a trading volume of 304,828 shares, compared to its average volume of 220,726. The stock has a market capitalization of $338.28 million, a PE ratio of 9.14 and a beta of 1.29. 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 stock has a 50-day simple moving average of $19.28 and a 200 day simple moving average of $19.46. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.49. Rigel Pharmaceuticals had a net margin of 18.31% and a negative return on equity of 655.26%. The company had revenue of $53.33 million for the quarter, compared to analysts' expectations of $43.87 million. During the same period in the prior year, the firm earned ($0.50) EPS. Analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RIGL. B. Riley raised their price target on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald boosted their price objective 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. Citigroup lifted their price target on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 8th. Finally, HC Wainwright restated a "buy" rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, March 5th. 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.com, the stock presently has a consensus 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.