Walter Moos Sells 4,000 Shares of Rigel Pharmaceuticals (NASDAQ:RIGL) Stock

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Director Walter Moos sold 4,000 shares of Rigel Pharmaceuticals stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $36.36, for a total transaction of $145,440.00. Following the completion of the sale, the director directly owned 12,722 shares in the company, valued at approximately $462,571.92. The trade was a 23.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rigel Pharmaceuticals Stock Up 0.3%

RIGL stock opened at $34.62 on Thursday. The company has a current ratio of 2.28, a quick ratio of 2.14 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $38.43 and its 200 day moving average price is $37.48. Rigel Pharmaceuticals, Inc. has a 52 week low of $15.50 and a 52 week high of $52.24. The company has a market cap of $628.35 million, a P/E ratio of 5.61 and a beta of 1.11.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Zacks Research upgraded shares of Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a research report on Thursday, January 22nd. Jefferies Financial Group raised Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the company from $23.00 to $42.00 in a research note on Wednesday, November 5th. Finally, Citigroup reiterated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Rigel Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $43.20.

Hedge Funds Weigh In On Rigel Pharmaceuticals

Large investors have recently modified their holdings of the company. AlphaQuest LLC grew its stake in Rigel Pharmaceuticals by 234.8% during the third quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company’s stock worth $31,000 after buying an additional 775 shares during the period. Laurel Wealth Advisors LLC boosted its holdings in Rigel Pharmaceuticals by 1,773.3% in the second quarter. Laurel Wealth Advisors LLC now owns 2,810 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 2,660 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Rigel Pharmaceuticals during the 3rd quarter valued at approximately $55,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Rigel Pharmaceuticals by 400.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock worth $55,000 after buying an additional 1,020 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Rigel Pharmaceuticals in the third quarter worth $62,000. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel’s lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).