Assenagon Asset Management S.A. Sells 30,987 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Assenagon Asset Management S.A. trimmed its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 410,778 shares of the biotechnology company’s stock after selling 30,987 shares during the period. Assenagon Asset Management S.A.’s holdings in Rigel Pharmaceuticals were worth $6,909,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Rigel Pharmaceuticals by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 399,663 shares of the biotechnology company’s stock valued at $6,468,000 after buying an additional 8,881 shares during the period. State Street Corp grew its holdings in Rigel Pharmaceuticals by 0.7% in the third quarter. State Street Corp now owns 367,795 shares of the biotechnology company’s stock worth $5,951,000 after purchasing an additional 2,552 shares during the last quarter. Stonepine Capital Management LLC raised its stake in Rigel Pharmaceuticals by 1.3% in the third quarter. Stonepine Capital Management LLC now owns 309,100 shares of the biotechnology company’s stock valued at $5,001,000 after buying an additional 4,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Rigel Pharmaceuticals by 29.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 98,006 shares of the biotechnology company’s stock worth $1,586,000 after purchasing an additional 22,443 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Rigel Pharmaceuticals by 34.5% during the third quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock valued at $1,205,000 after buying an additional 19,094 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors.

Rigel Pharmaceuticals Price Performance

NASDAQ RIGL opened at $20.13 on Monday. The company has a fifty day moving average of $21.04 and a two-hundred day moving average of $15.80. Rigel Pharmaceuticals, Inc. has a 1 year low of $7.48 and a 1 year high of $29.82. The company has a market capitalization of $354.49 million, a PE ratio of 143.80 and a beta of 1.31.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RIGL. Citigroup increased their price objective on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised shares of Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. Cantor Fitzgerald raised their price objective on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. B. Riley boosted their target price on Rigel Pharmaceuticals from $17.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Piper Sandler boosted their price target on shares of Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rigel Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company’s commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.