470,000 Shares in Rigel Pharmaceuticals, Inc. (RIGL) Acquired by Lombard Odier Asset Management USA Corp, Report finds

470,000 Shares in Rigel Pharmaceuticals, Inc. (RIGL) Acquired by Lombard Odier Asset Management USA Corp, Report finds

Lombard Odier Asset Management USA Corp purchased a new position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) during the third quarter, Holdings Channel reports. The institutional investor purchased 470,000 shares of the company’s stock, valued at approximately $1,725,000. Lombard Odier Asset Management USA Corp owned 0.48% of Rigel Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RIGL. ClariVest Asset Management LLC raised its stake in shares of Rigel Pharmaceuticals by 5.5% in the second quarter. ClariVest Asset Management LLC now owns 135,200 shares of the company’s stock worth $301,000 after buying an additional 7,100 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Rigel Pharmaceuticals by 4.6% in the second quarter. California State Teachers Retirement System now owns 195,283 shares of the company’s stock worth $435,000 after buying an additional 8,565 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Rigel Pharmaceuticals during the second quarter worth approximately $568,000. JPMorgan Chase & Co. bought a new stake in shares of Rigel Pharmaceuticals during the second quarter worth approximately $3,543,000. Finally, Nationwide Fund Advisors raised its stake in shares of Rigel Pharmaceuticals by 82.3% in the second quarter. Nationwide Fund Advisors now owns 289,877 shares of the company’s stock worth $646,000 after buying an additional 130,900 shares in the last quarter. 87.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) traded up 2.50% during midday trading on Wednesday, hitting $2.46. The company had a trading volume of 1,019,120 shares. The firm’s market capitalization is $243.39 million. Rigel Pharmaceuticals, Inc. has a 1-year low of $1.88 and a 1-year high of $4.38. The stock has a 50 day moving average price of $2.31 and a 200 day moving average price of $2.82.

A number of brokerages have commented on RIGL. Zacks Investment Research lowered Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, December 31st. HC Wainwright set a $6.00 target price on Rigel Pharmaceuticals and gave the company a “buy” rating in a report on Friday, October 21st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a report on Wednesday, January 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $4.00 target price on shares of Rigel Pharmaceuticals in a report on Monday, January 30th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Rigel Pharmaceuticals in a report on Saturday, October 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $5.63.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase III clinical trials for immune thrombocytopenic purpura (ITP); a Phase II clinical trial for autoimmune hemolytic anemia (AIHA), and a Phase II clinical trial for IgA nephropathy (IgAN).

Want to see what other hedge funds are holding RIGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL).

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470,000 Shares in Rigel Pharmaceuticals, Inc. (RIGL) Acquired by Lombard Odier Asset Management USA Corp

470,000 Shares in Rigel Pharmaceuticals, Inc. (RIGL) Acquired by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp purchased a new position in Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) during the third quarter, Holdings Channel reports. The institutional investor purchased 470,000 shares of the company’s stock, valued at approximately $1,725,000. Lombard Odier Asset Management USA Corp owned 0.48% of Rigel Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RIGL. ClariVest Asset Management LLC raised its stake in shares of Rigel Pharmaceuticals by 5.5% in the second quarter. ClariVest Asset Management LLC now owns 135,200 shares of the company’s stock worth $301,000 after buying an additional 7,100 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Rigel Pharmaceuticals by 4.6% in the second quarter. California State Teachers Retirement System now owns 195,283 shares of the company’s stock worth $435,000 after buying an additional 8,565 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Rigel Pharmaceuticals during the second quarter worth approximately $568,000. JPMorgan Chase & Co. bought a new stake in shares of Rigel Pharmaceuticals during the second quarter worth approximately $3,543,000. Finally, Nationwide Fund Advisors raised its stake in shares of Rigel Pharmaceuticals by 82.3% in the second quarter. Nationwide Fund Advisors now owns 289,877 shares of the company’s stock worth $646,000 after buying an additional 130,900 shares in the last quarter. 87.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) traded up 2.50% during midday trading on Wednesday, hitting $2.46. The company had a trading volume of 1,019,120 shares. The firm’s market capitalization is $243.39 million. Rigel Pharmaceuticals, Inc. has a 1-year low of $1.88 and a 1-year high of $4.38. The stock has a 50 day moving average price of $2.31 and a 200 day moving average price of $2.82.

A number of brokerages have commented on RIGL. Zacks Investment Research lowered Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, December 31st. HC Wainwright set a $6.00 target price on Rigel Pharmaceuticals and gave the company a “buy” rating in a report on Friday, October 21st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Rigel Pharmaceuticals in a report on Wednesday, January 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $4.00 target price on shares of Rigel Pharmaceuticals in a report on Monday, January 30th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Rigel Pharmaceuticals in a report on Saturday, October 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $5.63.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase III clinical trials for immune thrombocytopenic purpura (ITP); a Phase II clinical trial for autoimmune hemolytic anemia (AIHA), and a Phase II clinical trial for IgA nephropathy (IgAN).

Want to see what other hedge funds are holding RIGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL).

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