Macquarie Group Ltd. lifted its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 15.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 734,088 shares of the biotechnology company’s stock after buying an additional 99,088 shares during the period. Macquarie Group Ltd. owned approximately 0.51% of Rigel Pharmaceuticals worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in RIGL. Parametric Portfolio Associates LLC lifted its position in Rigel Pharmaceuticals by 11.3% during the first quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 3,118 shares in the last quarter. AXA purchased a new position in Rigel Pharmaceuticals during the second quarter valued at $122,000. Voya Investment Management LLC lifted its position in Rigel Pharmaceuticals by 30.4% during the second quarter. Voya Investment Management LLC now owns 53,661 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 12,500 shares in the last quarter. SG Americas Securities LLC lifted its position in Rigel Pharmaceuticals by 415.2% during the third quarter. SG Americas Securities LLC now owns 59,401 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 47,872 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in Rigel Pharmaceuticals during the second quarter valued at $193,000. Hedge funds and other institutional investors own 74.51% of the company’s stock.

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) opened at $3.73 on Thursday. Rigel Pharmaceuticals, Inc. has a twelve month low of $1.94 and a twelve month high of $4.47.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. The business had revenue of $0.90 million for the quarter. Rigel Pharmaceuticals had a negative return on equity of 102.26% and a negative net margin of 354.14%. Rigel Pharmaceuticals’s revenue was down 76.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.24) earnings per share. equities research analysts forecast that Rigel Pharmaceuticals, Inc. will post -0.56 EPS for the current year.

RIGL has been the topic of several analyst reports. Jefferies Group reiterated a “buy” rating and set a $5.00 target price on shares of Rigel Pharmaceuticals in a research report on Tuesday, September 5th. ValuEngine downgraded Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. BMO Capital Markets reiterated a “buy” rating and set a $5.00 target price on shares of Rigel Pharmaceuticals in a research report on Monday, October 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Rigel Pharmaceuticals in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $5.31.

In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $3.90, for a total transaction of $390,000.00. Following the sale, the chief financial officer now directly owns 100,000 shares of the company’s stock, valued at $390,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.21% of the stock is owned by company insiders.

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About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

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Institutional Ownership by Quarter for Rigel Pharmaceuticals (NASDAQ:RIGL)

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