First Hawaiian Bank cut its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,484 shares of the biotechnology company’s stock after selling 18,821 shares during the period. First Hawaiian Bank owned approximately 0.10% of Rigel Pharmaceuticals worth $489,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in Rigel Pharmaceuticals in the third quarter worth about $29,000. Eagle Asset Management Inc. purchased a new position in Rigel Pharmaceuticals in the fourth quarter worth about $29,000. Royce & Associates LP purchased a new position in Rigel Pharmaceuticals in the fourth quarter worth about $37,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Rigel Pharmaceuticals in the fourth quarter worth about $63,000. Finally, Shay Capital LLC purchased a new position in Rigel Pharmaceuticals in the fourth quarter worth about $75,000. 80.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of RIGL opened at $1.22 on Thursday. The business’s 50 day moving average is $1.92 and its 200 day moving average is $2.45. The company has a market capitalization of $209.90 million, a PE ratio of -2.49 and a beta of 1.50. Rigel Pharmaceuticals, Inc. has a 12-month low of $0.64 and a 12-month high of $4.62. The company has a current ratio of 2.35, a quick ratio of 2.23 and a debt-to-equity ratio of 4.39.
In other news, CEO Raul R. Rodriguez acquired 1,000,000 shares of Rigel Pharmaceuticals stock in a transaction on Thursday, June 9th. The shares were acquired at an average price of $0.69 per share, with a total value of $690,000.00. Following the purchase, the chief executive officer now directly owns 1,391,776 shares in the company, valued at approximately $960,325.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.43% of the company’s stock.
Several research analysts have issued reports on the company. Jefferies Financial Group cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 8th. HC Wainwright decreased their price objective on Rigel Pharmaceuticals from $11.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. Piper Sandler downgraded Rigel Pharmaceuticals from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $1.00 in a research note on Wednesday, June 8th. Cantor Fitzgerald downgraded Rigel Pharmaceuticals from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $6.00 to $1.00 in a research note on Wednesday, June 8th. Finally, B. Riley decreased their price objective on Rigel Pharmaceuticals from $4.00 to $1.25 and set a “neutral” rating on the stock in a research note on Thursday, June 9th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.34.
Rigel Pharmaceuticals Company Profile (Get Rating)
Rigel Pharmaceuticals, Inc, a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia.
- Get a free copy of the StockNews.com research report on Rigel Pharmaceuticals (RIGL)
- Downturn Gives These 3 Buys Juicy Dividend Yields
- Victoria’s Secret Stock is Out of the Box
- Time For a Ride in Six Flags Stock
- Why Dollar General (NYSE: DG) Should Be In Your Portfolio
- Korn Ferry Is A Good Buy For The Recession And Beyond
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Rigel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.