Rigel Pharmaceuticals, Inc. $RIGL Stock Position Lowered by Trexquant Investment LP

Key Points

• Trexquant Investment LP reduced its stakes in Rigel Pharmaceuticals by 25.1%, lowering its shareholdings to 33,101 shares worth approximately $595,000.
• Rigel Pharmaceuticals has experienced an uptick of 3.0% in stock price, with current trading at $41.34 and a market cap of $741.64 million.
• Analysts maintain a Hold rating for Rigel Pharmaceuticals with an average price target of $38.20, though Cantor Fitzgerald has set a higher target price of $32.00.

Trexquant Investment LP decreased its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,101 shares of the biotechnology company's stock after selling 11,070 shares during the quarter. Trexquant Investment LP owned 0.19% of Rigel Pharmaceuticals worth $595,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new position in Rigel Pharmaceuticals during the 4th quarter valued at approximately $288,000. Two Sigma Investments LP acquired a new position in Rigel Pharmaceuticals during the 4th quarter valued at approximately $1,025,000. Deutsche Bank AG boosted its position in Rigel Pharmaceuticals by 100.5% during the 4th quarter. Deutsche Bank AG now owns 13,744 shares of the biotechnology company's stock valued at $231,000 after purchasing an additional 6,890 shares during the period. GSA Capital Partners LLP acquired a new position in Rigel Pharmaceuticals during the 1st quarter valued at approximately $804,000. Finally, Millennium Management LLC acquired a new position in Rigel Pharmaceuticals during the 4th quarter valued at approximately $1,185,000. Institutional investors and hedge funds own 66.23% of the company's stock.

Rigel Pharmaceuticals Stock Performance

Rigel Pharmaceuticals stock traded up $0.14 during mid-day trading on Friday, hitting $37.96. 379,731 shares of the company's stock traded hands, compared to its average volume of 749,294. The firm has a 50 day moving average price of $30.15 and a 200 day moving average price of $22.99. The company has a quick ratio of 1.90, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The company has a market cap of $681.00 million, a PE ratio of 7.02 and a beta of 1.27. Rigel Pharmaceuticals, Inc. has a one year low of $13.01 and a one year high of $43.72.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biotechnology company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $1.97 by $1.31. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%.The firm had revenue of $101.69 million for the quarter, compared to the consensus estimate of $64.58 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald boosted their price objective on Rigel Pharmaceuticals from $23.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Rigel Pharmaceuticals has an average rating of "Hold" and an average target price of $38.20.

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.