Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) by 54.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,587 shares of the biotechnology company's stock after selling 132,381 shares during the quarter. Voya Investment Management LLC owned about 0.62% of Rigel Pharmaceuticals worth $1,826,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new position in Rigel Pharmaceuticals in the 4th quarter worth approximately $63,000. Wells Fargo & Company MN grew its holdings in Rigel Pharmaceuticals by 44.5% during 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 in the last quarter. SG Americas Securities LLC increased its stake 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 buying an additional 2,827 shares during the period. Integrated Quantitative Investments LLC acquired a new position in Rigel Pharmaceuticals in the 4th quarter worth $181,000. Finally, XTX Topco Ltd purchased a new position in Rigel Pharmaceuticals in the 4th quarter valued at about $184,000. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rigel Pharmaceuticals

In related news, EVP David A. Santos sold 2,125 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 53,500 shares in the company, valued at $1,119,220. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Raul R. Rodriguez sold 4,952 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $103,595.84. Following the completion of the sale, the chief executive officer now owns 243,854 shares in the company, valued at $5,101,425.68. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,113 shares of company stock worth $190,644 over the last ninety days. Company insiders own 9.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on RIGL shares. HC Wainwright reiterated a "buy" rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a research note on Wednesday, March 5th. B. Riley increased 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. StockNews.com downgraded shares of Rigel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th. Finally, Citigroup increased their price objective on shares of Rigel Pharmaceuticals from $49.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Rigel Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $36.80.

Rigel Pharmaceuticals Trading Up 3.4 %

Shares of NASDAQ RIGL opened at $19.36 on Monday. The business has a 50 day simple moving average of $18.93 and a 200-day simple moving average of $19.72. Rigel Pharmaceuticals, Inc. has a twelve month low of $7.48 and a twelve month high of $29.82. The company has a market capitalization of $345.91 million, a price-to-earnings ratio of 138.30 and a beta of 1.34.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) last issued its earnings results on Tuesday, March 4th. The biotechnology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.50. Rigel Pharmaceuticals had a net margin of 2.46% and a negative return on equity of 14.80%. The company had revenue of $57.60 million for the quarter, compared to analysts' expectations of $57.59 million. As a group, equities analysts predict that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

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.

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