Acadian Asset Management LLC boosted its holdings in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL – Get Rating) by 38.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 812,793 shares of the biotechnology company's stock after purchasing an additional 227,423 shares during the quarter. Acadian Asset Management LLC owned about 0.47% of Rigel Pharmaceuticals worth $2,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its stake in Rigel Pharmaceuticals by 20.9% in the 4th quarter. Teacher Retirement System of Texas now owns 32,961 shares of the biotechnology company's stock valued at $87,000 after buying an additional 5,701 shares during the period. Qube Research & Technologies Ltd increased its stake in Rigel Pharmaceuticals by 8.9% in the 1st quarter. Qube Research & Technologies Ltd now owns 112,005 shares of the biotechnology company's stock valued at $335,000 after buying an additional 9,189 shares during the period. Eagle Asset Management Inc. acquired a new position in Rigel Pharmaceuticals in the 4th quarter valued at $29,000. Russell Investments Group Ltd. increased its stake in Rigel Pharmaceuticals by 14.6% in the 1st quarter. Russell Investments Group Ltd. now owns 91,221 shares of the biotechnology company's stock valued at $272,000 after buying an additional 11,648 shares during the period. Finally, Sciencast Management LP acquired a new position in Rigel Pharmaceuticals in the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 80.94% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RIGL. HC Wainwright upped their price target on shares of Rigel Pharmaceuticals from $7.00 to $15.00 and gave the stock a "buy" rating in a research note on Thursday, August 18th. StockNews.com cut shares of Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday. B. Riley lowered their price target on shares of Rigel Pharmaceuticals from $4.00 to $1.25 and set a "neutral" rating on the stock in a research note on Thursday, June 9th. BMO Capital Markets lowered their price target on shares of Rigel Pharmaceuticals from $7.00 to $3.00 in a research note on Thursday, June 9th. Finally, Piper Sandler upped their price target on shares of Rigel Pharmaceuticals from $1.00 to $2.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 16th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $3.96.

Insider Buying and Selling at Rigel Pharmaceuticals

Rigel Pharmaceuticals Stock Down 7.1 %

NASDAQ:RIGL opened at $1.43 on Monday. The company has a debt-to-equity ratio of 4.39, a quick ratio of 2.08 and a current ratio of 2.19. The company's 50-day moving average is $1.35 and its two-hundred day moving average is $2.03. Rigel Pharmaceuticals, Inc. has a 12-month low of $0.64 and a 12-month high of $4.14.

About Rigel Pharmaceuticals

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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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