Deutsche Bank AG increased its position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) by 268.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,077,663 shares of the biotechnology company’s stock after acquiring an additional 784,847 shares during the quarter. Deutsche Bank AG’s holdings in Rigel Pharmaceuticals were worth $4,180,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in Rigel Pharmaceuticals by 13.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 115,304 shares of the biotechnology company’s stock valued at $447,000 after buying an additional 13,735 shares during the last quarter. American International Group Inc. grew its holdings in Rigel Pharmaceuticals by 20.2% during the 4th quarter. American International Group Inc. now owns 99,640 shares of the biotechnology company’s stock valued at $387,000 after buying an additional 16,756 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Rigel Pharmaceuticals by 42.5% during the 4th quarter. Mackenzie Financial Corp now owns 64,062 shares of the biotechnology company’s stock valued at $249,000 after buying an additional 19,091 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Rigel Pharmaceuticals during the 4th quarter valued at $105,000. Finally, Quantitative Investment Management LLC acquired a new stake in Rigel Pharmaceuticals during the 4th quarter valued at $109,000. Institutional investors and hedge funds own 92.33% of the company’s stock.
RIGL stock opened at $3.73 on Tuesday. Rigel Pharmaceuticals, Inc. has a 52-week low of $2.14 and a 52-week high of $4.71. The firm has a market cap of $582.11, a PE ratio of -6.02 and a beta of 1.32.
A number of brokerages have commented on RIGL. BidaskClub cut Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, March 15th. Cantor Fitzgerald reiterated a “buy” rating and set a $6.00 target price on shares of Rigel Pharmaceuticals in a report on Tuesday, April 3rd. Zacks Investment Research cut Rigel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, March 10th. Finally, HC Wainwright set a $7.00 target price on Rigel Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Rigel Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $5.49.
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About Rigel Pharmaceuticals
Rigel Pharmaceuticals, Inc, a biotechnology company, engages in the discovery and development of small molecule drugs for the treatment of immune and hematologic disorders, cancer, and rare diseases. The company's clinical programs include fostamatinib, an oral spleen tyrosine kinase inhibitor for immune thrombocytopenia purpura; and Phase II clinical study for autoimmune hemolytic anemia and immunoglobulin a nephropathy.
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