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

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Director Walter Moos sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $36.36, for a total transaction of $145,440.00. Following the transaction, the director owned 12,722 shares in the company, valued at $462,571.92. The trade was a 23.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Rigel Pharmaceuticals Stock Performance

Shares of Rigel Pharmaceuticals stock opened at $34.51 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.28 and a quick ratio of 2.14. The firm has a 50 day simple moving average of $38.57 and a 200 day simple moving average of $37.50. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $15.50 and a fifty-two week high of $52.24. The firm has a market cap of $626.36 million, a P/E ratio of 5.59 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RIGL. Cantor Fitzgerald raised their price target on Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Citigroup restated a “buy” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, January 14th. Zacks Research raised Rigel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Jefferies Financial Group upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $43.20.

Institutional Trading of Rigel Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RIGL. AlphaQuest LLC increased its stake in Rigel Pharmaceuticals by 234.8% in the 3rd quarter. AlphaQuest LLC now owns 1,105 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 775 shares during the last quarter. Laurel Wealth Advisors LLC increased its holdings in shares of Rigel Pharmaceuticals by 1,773.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,810 shares of the biotechnology company’s stock worth $53,000 after acquiring an additional 2,660 shares during the last quarter. IFP Advisors Inc acquired a new position in shares of Rigel Pharmaceuticals in the third quarter valued at $55,000. Northwestern Mutual Wealth Management Co. grew its stake in Rigel Pharmaceuticals by 400.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,275 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 1,020 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Rigel Pharmaceuticals in the third quarter valued at approximately $62,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Rigel Pharmaceuticals Company Profile

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).