Jump Financial LLC Boosts Stock Holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Jump Financial LLC lifted its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 96.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,035 shares of the biotechnology company's stock after buying an additional 14,750 shares during the quarter. Jump Financial LLC owned approximately 0.17% of Rigel Pharmaceuticals worth $505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Rigel Pharmaceuticals by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 1,012,931 shares of the biotechnology company's stock valued at $17,038,000 after purchasing an additional 27,640 shares in the last quarter. Geode Capital Management LLC grew its stake in Rigel Pharmaceuticals by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 402,051 shares of the biotechnology company's stock worth $6,764,000 after buying an additional 2,388 shares in the last quarter. State Street Corp grew its stake in Rigel Pharmaceuticals by 0.7% in the 3rd quarter. State Street Corp now owns 367,795 shares of the biotechnology company's stock worth $5,951,000 after buying an additional 2,552 shares in the last quarter. Renaissance Technologies LLC grew its stake in Rigel Pharmaceuticals by 111.1% in the 4th quarter. Renaissance Technologies LLC now owns 299,709 shares of the biotechnology company's stock worth $5,041,000 after buying an additional 157,763 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Rigel Pharmaceuticals by 587.9% in the fourth quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company's stock worth $3,036,000 after acquiring an additional 154,254 shares in the last quarter. 66.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rigel Pharmaceuticals news, CFO Dean L. Schorno sold 2,036 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $42,593.12. Following the sale, the chief financial officer now owns 58,969 shares in the company, valued at approximately $1,233,631.48. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Santos sold 2,125 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total transaction of $44,455.00. Following the completion of the sale, the executive vice president now owns 53,500 shares in the company, valued at approximately $1,119,220. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,113 shares of company stock worth $190,644. 9.04% of the stock is currently owned by company insiders.

Rigel Pharmaceuticals Price Performance

RIGL traded down $0.01 during midday trading on Wednesday, reaching $19.56. 146,975 shares of the company's stock traded hands, compared to its average volume of 207,865. The firm has a fifty day moving average of $19.02 and a two-hundred day moving average of $19.61. The stock has a market capitalization of $349.48 million, a price-to-earnings ratio of 139.72 and a beta of 1.32. Rigel Pharmaceuticals, Inc. has a 52 week low of $7.48 and a 52 week high of $29.82.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.50. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. The business had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.59 million. Sell-side analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RIGL. Citigroup upped their price objective on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. StockNews.com cut Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 8th. B. Riley boosted 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, HC Wainwright reissued a "buy" rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Three investment 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, Rigel Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $36.80.

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.