CM Management LLC Sells 47,500 Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)

CM Management LLC lessened its position in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 242,500 shares of the biotechnology company’s stock after selling 47,500 shares during the quarter. Rigel Pharmaceuticals comprises approximately 3.5% of CM Management LLC’s portfolio, making the stock its 8th largest position. CM Management LLC owned about 1.38% of Rigel Pharmaceuticals worth $4,079,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new position in Rigel Pharmaceuticals during the 4th quarter worth approximately $63,000. SG Americas Securities LLC lifted its position in Rigel Pharmaceuticals by 42.8% in the fourth quarter. SG Americas Securities LLC now owns 9,429 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 2,827 shares during the last quarter. Franklin Resources Inc. acquired a new position in Rigel Pharmaceuticals in the third quarter valued at $193,000. Empire Financial Management Company LLC purchased a new position in shares of Rigel Pharmaceuticals during the third quarter worth about $231,000. Finally, PDT Partners LLC acquired a new stake in shares of Rigel Pharmaceuticals during the third quarter worth about $322,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald raised their price target on Rigel Pharmaceuticals from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Citigroup upped their price target on Rigel Pharmaceuticals from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $57.00 target price on shares of Rigel Pharmaceuticals in a report on Wednesday. B. Riley lifted their price target on Rigel Pharmaceuticals from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, StockNews.com cut shares of Rigel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Rigel Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Insiders Place Their Bets

In other Rigel Pharmaceuticals news, CEO Raul R. Rodriguez sold 4,952 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $20.92, for a total value of $103,595.84. Following the completion of the sale, the chief executive officer now directly owns 243,854 shares of the company’s stock, valued at approximately $5,101,425.68. This represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Santos sold 2,125 shares of Rigel Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.92, for a total value of $44,455.00. Following the completion of the transaction, the executive vice president now directly owns 53,500 shares in the company, valued at $1,119,220. This represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,113 shares of company stock worth $190,644. Insiders own 9.04% of the company’s stock.

Rigel Pharmaceuticals Stock Up 4.2 %

RIGL opened at $20.52 on Friday. The company’s 50-day moving average price is $20.22 and its 200 day moving average price is $18.52. Rigel Pharmaceuticals, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $29.82. The firm has a market cap of $361.46 million, a price-to-earnings ratio of 146.58 and a beta of 1.35.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings data on Tuesday, March 4th. The biotechnology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.50. The firm had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.59 million. Rigel Pharmaceuticals had a negative return on equity of 14.80% and a net margin of 2.46%. Research analysts anticipate that Rigel Pharmaceuticals, Inc. will post 0.22 earnings per share for the current year.

Rigel Pharmaceuticals Profile

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.