Walleye Capital LLC Makes New $364,000 Investment in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Walleye Capital LLC acquired a new stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,621 shares of the biotechnology company's stock, valued at approximately $364,000. Walleye Capital LLC owned 0.12% of Rigel Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC grew its holdings in Rigel Pharmaceuticals by 111.1% in the fourth quarter. Renaissance Technologies LLC now owns 299,709 shares of the biotechnology company's stock valued at $5,041,000 after purchasing an additional 157,763 shares during the period. JPMorgan Chase & Co. grew its stake in Rigel Pharmaceuticals by 587.9% in the 4th quarter. JPMorgan Chase & Co. now owns 180,492 shares of the biotechnology company's stock valued at $3,036,000 after acquiring an additional 154,254 shares during the period. Hillsdale Investment Management Inc. increased its holdings in Rigel Pharmaceuticals by 814.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 170,100 shares of the biotechnology company's stock worth $2,861,000 after acquiring an additional 151,500 shares in the last quarter. Norges Bank purchased a new stake in Rigel Pharmaceuticals in the 4th quarter worth $2,178,000. Finally, Trexquant Investment LP purchased a new stake in Rigel Pharmaceuticals in the 4th quarter worth $743,000. 66.23% of the stock is owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Trading Down 0.1 %

RIGL traded down $0.01 on Wednesday, hitting $19.56. 146,975 shares of the company's stock were exchanged, compared to its average volume of 207,865. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The firm has a 50-day moving average price of $19.02 and a 200-day moving average price of $19.61. The stock has a market cap of $349.48 million, a price-to-earnings ratio of 139.72 and a beta of 1.32.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.