TIAA CREF Investment Management LLC decreased its stake in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 6.9% during the first quarter, Holdings Channel reports. The fund owned 450,545 shares of the biotechnology company’s stock after selling 33,294 shares during the period. TIAA CREF Investment Management LLC’s holdings in Rigel Pharmaceuticals were worth $1,491,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Parametric Portfolio Associates LLC raised its position in shares of Rigel Pharmaceuticals by 11.3% in the first quarter. Parametric Portfolio Associates LLC now owns 30,815 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 3,118 shares during the last quarter. American International Group Inc. raised its position in shares of Rigel Pharmaceuticals by 39.9% in the first quarter. American International Group Inc. now owns 74,900 shares of the biotechnology company’s stock valued at $248,000 after buying an additional 21,345 shares during the last quarter. Teachers Advisors LLC raised its position 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. Wells Fargo & Company MN raised its position 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. Finally, State Street Corp raised its position 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 currently owned by institutional investors.

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) traded down 0.46% during trading on Friday, reaching $2.18. 445,151 shares of the company’s stock traded hands. The company has a 50 day moving average price of $2.53 and a 200-day moving average price of $2.64. The company’s market cap is $271.17 million. Rigel Pharmaceuticals, Inc. has a 12-month low of $1.94 and a 12-month high of $4.38.

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

ILLEGAL ACTIVITY WARNING: This piece of content was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/tiaa-cref-investment-management-llc-lowers-position-in-rigel-pharmaceuticals-inc-rigl/1477872.html.

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

Rigel Pharmaceuticals Company 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.

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.