Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Stock Holdings Lifted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 29.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,006 shares of the biotechnology company’s stock after buying an additional 22,443 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.56% of Rigel Pharmaceuticals worth $1,586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bayesian Capital Management LP grew its holdings in shares of Rigel Pharmaceuticals by 167.8% during the first quarter. Bayesian Capital Management LP now owns 30,480 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 19,100 shares during the last quarter. Ground Swell Capital LLC acquired a new position in Rigel Pharmaceuticals during the 2nd quarter valued at approximately $141,000. Los Angeles Capital Management LLC grew its stake in Rigel Pharmaceuticals by 34.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 74,502 shares of the biotechnology company’s stock worth $1,205,000 after buying an additional 19,094 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Rigel Pharmaceuticals in the third quarter worth $7,148,000. Finally, Vanguard Group Inc. lifted its stake in Rigel Pharmaceuticals by 4.6% in the first quarter. Vanguard Group Inc. now owns 9,367,424 shares of the biotechnology company’s stock valued at $13,864,000 after buying an additional 414,207 shares during the last quarter. Institutional investors and hedge funds own 66.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup upped their price target on shares of Rigel Pharmaceuticals from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $15.00 target price on shares of Rigel Pharmaceuticals in a research report on Friday, September 20th. Piper Sandler lifted their price target on Rigel Pharmaceuticals from $15.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of Rigel Pharmaceuticals in a report on Friday, October 25th. Finally, StockNews.com upgraded Rigel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.30.

Rigel Pharmaceuticals Price Performance

RIGL opened at $26.70 on Wednesday. The business has a 50 day moving average price of $17.44 and a two-hundred day moving average price of $12.92. The company has a market capitalization of $470.19 million, a price-to-earnings ratio of 190.73 and a beta of 0.96. Rigel Pharmaceuticals, Inc. has a 1-year low of $7.48 and a 1-year high of $29.82.

Rigel Pharmaceuticals Company 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.