Alps Advisors Inc. Sells 74,383 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

Alps Advisors Inc. trimmed its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGLGet Rating) by 42.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,065 shares of the biotechnology company’s stock after selling 74,383 shares during the period. Alps Advisors Inc.’s holdings in Rigel Pharmaceuticals were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in Rigel Pharmaceuticals by 74.9% during the 2nd quarter. Mackenzie Financial Corp now owns 34,933 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 14,964 shares in the last quarter. Engineers Gate Manager LP bought a new position in Rigel Pharmaceuticals during the 1st quarter worth about $103,000. Strs Ohio grew its holdings in Rigel Pharmaceuticals by 6.0% during the 2nd quarter. Strs Ohio now owns 163,200 shares of the biotechnology company’s stock worth $184,000 after acquiring an additional 9,200 shares in the last quarter. Lido Advisors LLC grew its holdings in Rigel Pharmaceuticals by 7.6% during the 1st quarter. Lido Advisors LLC now owns 69,105 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 4,854 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Rigel Pharmaceuticals during the 2nd quarter worth about $224,000. 80.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on RIGL shares. BMO Capital Markets decreased their price target on shares of Rigel Pharmaceuticals from $4.00 to $3.00 and set an “outperform” rating for the company in a research report on Friday, November 4th. Piper Sandler increased their price target on shares of Rigel Pharmaceuticals from $1.00 to $2.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. HC Wainwright increased their price target on shares of Rigel Pharmaceuticals from $7.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. StockNews.com raised shares of Rigel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, November 12th. Finally, Citigroup increased their price target on shares of Rigel Pharmaceuticals to $1.50 in a research report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.96.

Rigel Pharmaceuticals Price Performance

Shares of Rigel Pharmaceuticals stock opened at $0.76 on Thursday. The company has a quick ratio of 2.19, a current ratio of 2.34 and a debt-to-equity ratio of 4.39. The company has a 50 day moving average price of $0.92 and a 200 day moving average price of $1.25. Rigel Pharmaceuticals, Inc. has a 52 week low of $0.64 and a 52 week high of $3.52.

Rigel Pharmaceuticals Profile

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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.

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Institutional Ownership by Quarter for Rigel Pharmaceuticals (NASDAQ:RIGL)

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