New York State Common Retirement Fund Sells 29,001 Shares of Rigel Pharmaceuticals, Inc. (RIGL)

New York State Common Retirement Fund decreased its stake in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 20.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,400 shares of the biotechnology company’s stock after selling 29,001 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of Rigel Pharmaceuticals worth $315,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RIGL. Vanguard Group Inc. boosted its stake in Rigel Pharmaceuticals by 20.3% during the first quarter. Vanguard Group Inc. now owns 5,691,035 shares of the biotechnology company’s stock valued at $18,837,000 after buying an additional 960,345 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Rigel Pharmaceuticals by 32.9% in the 1st quarter. Geode Capital Management LLC now owns 1,012,241 shares of the biotechnology company’s stock valued at $3,350,000 after purchasing an additional 250,569 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Rigel Pharmaceuticals by 29.3% in the 1st quarter. Bank of New York Mellon Corp now owns 578,414 shares of the biotechnology company’s stock valued at $1,915,000 after purchasing an additional 131,162 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Rigel Pharmaceuticals by 8.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 1,180,000 shares of the biotechnology company’s stock worth $3,222,000 after buying an additional 95,000 shares during the period. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Rigel Pharmaceuticals in the second quarter worth approximately $232,000. Hedge funds and other institutional investors own 74.51% of the company’s stock.

In other news, CFO Ryan D. Maynard sold 100,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $3.90, for a total value of $390,000.00. Following the completion of the transaction, the chief financial officer now owns 100,000 shares of the company’s stock, valued at approximately $390,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.21% of the company’s stock.

Rigel Pharmaceuticals, Inc. (NASDAQ RIGL) traded down $0.14 during trading on Monday, hitting $3.95. The stock had a trading volume of 990,118 shares, compared to its average volume of 1,209,449. Rigel Pharmaceuticals, Inc. has a 52-week low of $1.94 and a 52-week high of $4.47.

Rigel Pharmaceuticals (NASDAQ:RIGL) last issued its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. The company had revenue of $0.90 million during the quarter. Rigel Pharmaceuticals had a negative return on equity of 102.26% and a negative net margin of 354.14%. The business’s revenue was down 76.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.24) EPS. research analysts expect that Rigel Pharmaceuticals, Inc. will post -0.56 earnings per share for the current fiscal year.

RIGL has been the topic of several recent analyst reports. Jefferies Group reiterated a “buy” rating and issued a $5.00 price target on shares of Rigel Pharmaceuticals in a report on Tuesday, September 5th. BMO Capital Markets restated a “buy” rating and set a $5.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, October 2nd. Zacks Investment Research upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Saturday, November 11th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Rigel Pharmaceuticals in a report on Monday, November 6th. Finally, ValuEngine upgraded Rigel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.31.

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Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.

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

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