Parametric Portfolio Associates LLC increased its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 11.3% during the first quarter, Holdings Channel reports. The fund owned 30,815 shares of the biotechnology company’s stock after buying an additional 3,118 shares during the period. Parametric Portfolio Associates LLC’s holdings in Rigel Pharmaceuticals were worth $102,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Rigel Pharmaceuticals by 29.3% in the first quarter. Bank of New York Mellon Corp now owns 578,414 shares of the biotechnology company’s stock valued at $1,915,000 after buying an additional 131,162 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Rigel Pharmaceuticals by 68.6% in the first quarter. Wells Fargo & Company MN now owns 112,103 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 45,600 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Rigel Pharmaceuticals by 76.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 1,085,000 shares of the biotechnology company’s stock valued at $3,592,000 after buying an additional 470,000 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Rigel Pharmaceuticals by 26.0% in the fourth quarter. Teachers Advisors LLC now owns 213,368 shares of the biotechnology company’s stock valued at $508,000 after buying an additional 43,965 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Rigel Pharmaceuticals by 7.1% in the fourth quarter. State Street Corp now owns 1,712,369 shares of the biotechnology company’s stock valued at $4,070,000 after buying an additional 112,796 shares during the last quarter. 88.59% of the stock is owned by institutional investors.

Rigel Pharmaceuticals, Inc. (RIGL) opened at 2.22 on Thursday. The company has a 50-day moving average price of $2.56 and a 200-day moving average price of $2.64. Rigel Pharmaceuticals, Inc. has a one year low of $1.94 and a one year high of $4.38. The stock’s market cap is $276.15 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 105.86%. During the same period last year, the company earned ($0.15) earnings per share. On average, analysts anticipate that Rigel Pharmaceuticals, Inc. will post ($0.60) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This report was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another site, it was stolen and reposted in violation of US and international trademark & copyright law. The legal version of this report can be accessed at https://www.watchlistnews.com/parametric-portfolio-associates-llc-has-102000-stake-in-rigel-pharmaceuticals-inc-rigl/1470398.html.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. BidaskClub downgraded Rigel Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. ValuEngine downgraded Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BMO Capital Markets reissued an “outperform” rating and issued a $5.00 price target (up previously from $4.00) on shares of Rigel Pharmaceuticals in a report on Monday, June 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.05.

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.

Want to see what other hedge funds are holding RIGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL).

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

Receive News & Ratings for Rigel Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.