Ritholtz Wealth Management Acquires 72,999 Shares of Rigel Pharmaceuticals, Inc. $RIGL

Key Points

• Ritholtz Wealth Management boosted its stake in Rigel Pharmaceuticals by 961.3% in Q4, buying an additional 72,999 shares to hold 80,593 shares (about 0.44% of the company) worth roughly $3.45 million.
• Rigel has a market capitalization of ~$539.6M and a P/E of 1.54; it reported quarterly EPS of $1.14 (missing estimates) and revenue of $69.8M (slightly above expectations), while analysts hold a consensus “Moderate Buy” rating with a $45.67 target.
• Director Walter H. Moos sold 4,000 shares at $36.36 (a 23.92% reduction in his holdings); insiders own 9.48% of the stock while institutional investors hold 66.23%.

Ritholtz Wealth Management increased its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 961.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,593 shares of the biotechnology company's stock after acquiring an additional 72,999 shares during the quarter. Ritholtz Wealth Management owned about 0.44% of Rigel Pharmaceuticals worth $3,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIGL. AlphaQuest LLC lifted its stake in Rigel Pharmaceuticals by 234.8% in the third quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 775 shares during the period. IFP Advisors Inc purchased a new stake in Rigel Pharmaceuticals in the third quarter worth $55,000. Caitong International Asset Management Co. Ltd purchased a new stake in Rigel Pharmaceuticals in the third quarter worth $62,000. Wexford Capital LP purchased a new stake in Rigel Pharmaceuticals in the third quarter worth $66,000. Finally, Legal & General Group Plc lifted its stake in Rigel Pharmaceuticals by 130.7% in the second quarter. Legal & General Group Plc now owns 4,310 shares of the biotechnology company's stock worth $81,000 after acquiring an additional 2,442 shares during the period. Hedge funds and other institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Stock Performance

Shares of Rigel Pharmaceuticals stock opened at $29.20 on Friday. The company has a current ratio of 2.42, a quick ratio of 2.30 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $539.62 million, a P/E ratio of 1.54 and a beta of 1.27. The business has a fifty day simple moving average of $30.66 and a two-hundred day simple moving average of $35.28. Rigel Pharmaceuticals, Inc. has a 12 month low of $15.81 and a 12 month high of $52.24.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.19). The firm had revenue of $69.80 million for the quarter, compared to analysts' expectations of $68.70 million. Rigel Pharmaceuticals had a net margin of 124.72% and a return on equity of 79.84%. On average, equities analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on RIGL. Wall Street Zen lowered Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a research note on Thursday, January 22nd. Zacks Research raised Rigel Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 18th. Finally, Citigroup reaffirmed a "buy" rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 14th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.67.

Insider Buying and Selling

In other Rigel Pharmaceuticals news, Director Walter H. Moos sold 4,000 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $36.36, for a total transaction of $145,440.00. Following the completion of the transaction, the director owned 12,722 shares of the company's stock, valued at approximately $462,571.92. This trade represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 9.48% of the company's stock.

Rigel Pharmaceuticals Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel's lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).

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