Macquarie Group Ltd. Acquires 99,088 Shares of Rigel Pharmaceuticals, Inc. (RIGL)

Macquarie Group Ltd. boosted its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 15.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 734,088 shares of the biotechnology company’s stock after buying an additional 99,088 shares during the quarter. Macquarie Group Ltd. owned approximately 0.51% of Rigel Pharmaceuticals worth $1,865,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RIGL. Parametric Portfolio Associates LLC lifted its stake in Rigel Pharmaceuticals by 11.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 3,118 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Rigel Pharmaceuticals by 30.6% during the 1st quarter. Teachers Advisors LLC now owns 278,553 shares of the biotechnology company’s stock worth $922,000 after buying an additional 65,185 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Rigel Pharmaceuticals by 20.3% during the 1st quarter. Vanguard Group Inc. now owns 5,691,035 shares of the biotechnology company’s stock worth $18,837,000 after buying an additional 960,345 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Rigel Pharmaceuticals by 32.9% during the 1st quarter. Geode Capital Management LLC now owns 1,012,241 shares of the biotechnology company’s stock worth $3,350,000 after buying an additional 250,569 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Rigel Pharmaceuticals by 32.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 268,000 shares of the biotechnology company’s stock worth $888,000 after buying an additional 66,400 shares during the last quarter. 74.51% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) traded up $0.10 during trading on Friday, hitting $3.88. 1,831,603 shares of the stock traded hands, compared to its average volume of 1,570,000. Rigel Pharmaceuticals, Inc. has a 1-year low of $1.94 and a 1-year high of $4.47. The stock has a market cap of $568.39, a PE ratio of -6.58 and a beta of 1.30.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 102.26%. The firm had revenue of $0.90 million during the quarter. During the same period last year, the firm earned ($0.24) earnings per share. Rigel Pharmaceuticals’s revenue was down 76.1% on a year-over-year basis. analysts anticipate that Rigel Pharmaceuticals, Inc. will post -0.56 earnings per share for the current year.

RIGL has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine downgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 6th. Cantor Fitzgerald started coverage on shares of Rigel Pharmaceuticals in a report on Thursday, December 14th. They issued an “overweight” rating and a $6.00 target price for the company. HC Wainwright set a $7.00 target price on shares of Rigel Pharmaceuticals and gave the company a “buy” rating in a report on Monday, December 11th. Finally, BMO Capital Markets restated a “buy” rating and issued a $5.00 price target on shares of Rigel Pharmaceuticals in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $5.54.

In other Rigel Pharmaceuticals news, CFO Ryan D. Maynard sold 100,000 shares of Rigel Pharmaceuticals stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.90, for a total value of $390,000.00. Following the transaction, the chief financial officer now directly owns 100,000 shares in the company, valued at $390,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.21% of the stock is owned by insiders.

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Rigel Pharmaceuticals Profile

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.

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

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