B. Riley Financial Inc. Decreases Position in Rigel Pharmaceuticals, Inc. (RIGL)

B. Riley Financial Inc. cut its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 14.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,500 shares of the biotechnology company’s stock after selling 30,500 shares during the quarter. B. Riley Financial Inc.’s holdings in Rigel Pharmaceuticals were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RIGL. Wells Fargo & Company MN lifted its stake in Rigel Pharmaceuticals by 70.6% in the 2nd quarter. Wells Fargo & Company MN now owns 191,217 shares of the biotechnology company’s stock valued at $522,000 after buying an additional 79,114 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Rigel Pharmaceuticals by 24.6% in the 2nd quarter. Alliancebernstein L.P. now owns 144,740 shares of the biotechnology company’s stock worth $395,000 after purchasing an additional 28,600 shares in the last quarter. Teachers Advisors LLC lifted its stake in Rigel Pharmaceuticals by 6.7% in the 2nd quarter. Teachers Advisors LLC now owns 297,167 shares of the biotechnology company’s stock worth $811,000 after purchasing an additional 18,614 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Rigel Pharmaceuticals by 5.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 473,151 shares of the biotechnology company’s stock worth $1,292,000 after purchasing an additional 22,606 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its stake in Rigel Pharmaceuticals by 20.0% in the 2nd quarter. Nationwide Fund Advisors now owns 247,659 shares of the biotechnology company’s stock worth $676,000 after purchasing an additional 41,355 shares in the last quarter. 84.18% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on RIGL shares. Zacks Investment Research raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research note on Saturday, November 11th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Rigel Pharmaceuticals in a research note on Monday, November 6th. BidaskClub raised shares of Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, December 29th. Piper Jaffray Companies reissued an “overweight” rating and issued a $6.00 target price on shares of Rigel Pharmaceuticals in a research note on Thursday, December 21st. Finally, ValuEngine raised shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Rigel Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $5.54.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) opened at $3.78 on Thursday. Rigel Pharmaceuticals, Inc. has a 12 month low of $2.14 and a 12 month high of $4.71. The firm has a market cap of $553.74, a P/E ratio of -6.41 and a beta of 1.29.

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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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