FMR LLC increased its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,833,279 shares of the biotechnology company’s stock after buying an additional 652,133 shares during the period. FMR LLC owned 14.99% of Rigel Pharmaceuticals worth $35,303,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Rigel Pharmaceuticals during the third quarter valued at approximately $486,000. Nationwide Fund Advisors raised its stake in Rigel Pharmaceuticals by 16.0% in the third quarter. Nationwide Fund Advisors now owns 336,177 shares of the biotechnology company’s stock valued at $1,234,000 after buying an additional 46,300 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Rigel Pharmaceuticals by 54.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 850,000 shares of the biotechnology company’s stock valued at $3,120,000 after buying an additional 300,000 shares during the last quarter. NJ State Employees Deferred Compensation Plan raised its stake in Rigel Pharmaceuticals by 39.2% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 355,000 shares of the biotechnology company’s stock valued at $1,303,000 after buying an additional 100,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Rigel Pharmaceuticals by 40.7% in the third quarter. Wells Fargo & Company MN now owns 34,195 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 9,900 shares during the last quarter. Hedge funds and other institutional investors own 72.23% of the company’s stock.
Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) traded down 5.28% during midday trading on Friday, hitting $2.87. 1,999,657 shares of the stock traded hands. The stock’s market cap is $350.96 million. The company’s 50 day moving average price is $3.01 and its 200-day moving average price is $2.74. Rigel Pharmaceuticals, Inc. has a 12-month low of $1.94 and a 12-month high of $4.38.
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Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Saturday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price (down from $6.00) on shares of Rigel Pharmaceuticals in a report on Thursday, March 9th. Jefferies Group LLC reissued a “buy” rating and set a $5.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, March 8th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $4.00 price objective on shares of Rigel Pharmaceuticals in a report on Wednesday, March 8th. Seven analysts have rated the stock with a buy rating, Rigel Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $5.50.
Rigel Pharmaceuticals Company Profile
Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include clinical studies of fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor in a range of indications.
