Assenagon Asset Management S.A. Sells 778,443 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Assenagon Asset Management S.A. lessened its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 28.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,991,398 shares of the biotechnology company's stock after selling 778,443 shares during the quarter. Assenagon Asset Management S.A. owned about 1.14% of Rigel Pharmaceuticals worth $2,888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RIGL. SG Americas Securities LLC lifted its position in shares of Rigel Pharmaceuticals by 57.7% during the 4th quarter. SG Americas Securities LLC now owns 49,673 shares of the biotechnology company's stock valued at $72,000 after acquiring an additional 18,180 shares during the period. Deutsche Bank AG boosted its position in Rigel Pharmaceuticals by 23.7% during the third quarter. Deutsche Bank AG now owns 78,922 shares of the biotechnology company's stock worth $85,000 after purchasing an additional 15,101 shares in the last quarter. GSA Capital Partners LLP grew its holdings in Rigel Pharmaceuticals by 170.9% in the third quarter. GSA Capital Partners LLP now owns 971,441 shares of the biotechnology company's stock valued at $1,049,000 after purchasing an additional 612,815 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Rigel Pharmaceuticals by 1.7% in the third quarter. Acadian Asset Management LLC now owns 4,660,740 shares of the biotechnology company's stock valued at $5,033,000 after buying an additional 79,228 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Rigel Pharmaceuticals by 22.0% during the 3rd quarter. Principal Financial Group Inc. now owns 121,938 shares of the biotechnology company's stock worth $132,000 after buying an additional 21,962 shares during the last quarter. Hedge funds and other institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL remained flat at $1.33 during trading hours on Wednesday. 544,828 shares of the company's stock were exchanged, compared to its average volume of 1,135,141. The stock has a market capitalization of $233.26 million, a PE ratio of -8.87 and a beta of 0.95. Rigel Pharmaceuticals, Inc. has a 12-month low of $0.71 and a 12-month high of $1.96. The stock has a 50 day simple moving average of $1.34 and a 200 day simple moving average of $1.18.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Cantor Fitzgerald lifted their price objective on Rigel Pharmaceuticals from $2.00 to $3.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 6th. Citigroup boosted their price target on Rigel Pharmaceuticals from $3.00 to $4.00 and gave the company a "buy" rating in a report on Thursday, March 7th. HC Wainwright reiterated a "buy" rating and set a $15.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, March 6th. StockNews.com raised Rigel Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Wednesday, March 27th. Finally, B. Riley reissued a "neutral" rating and set a $1.25 price target on shares of Rigel Pharmaceuticals in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $5.05.

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.