Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Stock Holdings Lowered by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 27.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 84,311 shares of the biotechnology company's stock after selling 32,604 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.48% of Rigel Pharmaceuticals worth $1,418,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in Rigel Pharmaceuticals in the fourth quarter worth about $63,000. Wells Fargo & Company MN lifted its stake in shares of Rigel Pharmaceuticals by 44.5% in the 4th quarter. Wells Fargo & Company MN now owns 8,603 shares of the biotechnology company's stock valued at $145,000 after purchasing an additional 2,648 shares during the period. SG Americas Securities LLC increased its holdings in Rigel Pharmaceuticals by 42.8% during the 4th quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company's stock worth $159,000 after purchasing an additional 2,827 shares in the last quarter. Graham Capital Management L.P. bought a new position in Rigel Pharmaceuticals during the fourth quarter worth about $170,000. Finally, Integrated Quantitative Investments LLC bought a new position in Rigel Pharmaceuticals during the 4th quarter worth $181,000. Hedge funds and other institutional investors own 66.23% of the company's stock.

Rigel Pharmaceuticals Trading Down 3.4%

Shares of RIGL traded down $0.68 during trading hours on Monday, reaching $19.16. The company had a trading volume of 79,112 shares, compared to its average volume of 215,214. The company has a market capitalization of $342.34 million, a price-to-earnings ratio of 136.69 and a beta of 1.34. Rigel Pharmaceuticals, Inc. has a 12-month low of $7.48 and a 12-month high of $29.82. The firm has a 50 day simple moving average of $18.47 and a 200-day simple moving average of $20.03.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.49. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The company had revenue of $53.33 million for the quarter, compared to analysts' expectations of $43.87 million. During the same period last year, the company earned ($0.50) EPS. Sell-side analysts forecast that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RIGL has been the topic of several recent analyst reports. StockNews.com lowered Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 8th. B. Riley upped their price objective on shares of Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. HC Wainwright restated a "buy" rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. Cantor Fitzgerald lifted their price objective on shares of Rigel Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Citigroup lifted their price objective on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.