Company shares last traded at $3.75 which is impressively higher than the 50 day moving average of $3.27 and significantly above the 200 day moving average of $2.74. The 50 day moving average moved up $0.48 and the 200 day average went up $1.01 or +36.71%. Trading volume for Rigel Pharmaceuticals, Inc. was 634K in the last trading session. Overall, volume was down 73.57% under the stocks normal daily volume.
Traders are feeling more bearish on the company lately if you pay attention to the increase in short interest. The stock experienced a rise in short interest from September 29, 2017 to October 13, 2017 of 54.54%. Short shares increased from 4,068,963 to 6,288,125 over that timeframe. Days to cover decreased from 3.0 to 1.0 and the short interest percentage is 0.06% as of October 13.
Here are a few substantial investment firms who have updated their positions. Rhenman & Partners Asset Management Ab bolstered its position by buying 974,100 shares an increase of 70.8%. Rhenman & Partners Asset Management Ab claims 2,350,000 shares valued at $5,969,000. The value of the position overall is up by 58.9%. Bank Of Montreal /can/ augmented its investment by buying 1 shares an increase of 4.3% from 06/30/2017 to 09/30/2017. Bank Of Montreal /can/ now holds 24 shares worth $0. The total value of its holdings decreased nan%.
As of quarter end Nationwide Fund Advisors had sold a total of 10,741 shares trimming its position 4.3%. The value of the investment in (RIGL) went from $676,000 to $602,000 decreasing 10.9% since the last quarter. As of the end of the quarter Nj State Employees Deferred Compensation Plan had disposed of 65,000 shares trimming its holdings by 18.3%. The value of the investment in Rigel Pharmaceuticals, Inc. decreased from $969,000 to $737,000 a change of $232,000 for the reporting period.
As of the last earnings report the EPS was $-0.68 and is expected to be $-0.60 for the current year with 124,392,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $-0.15 and the next full year EPS is anticipated to be $-0.43.
Rigel Pharmaceuticals, Inc., launched on June 14, 1996, is a clinical-stage biotechnology company. The Company is involved in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Business’s clinical programs include clinical studies of fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor in a range of indications. It has completed Phase III clinical trial of fostamatinib in chronic immune thrombocytopenia (ITP). The Company is conducting a Phase II clinical study with fostamatinib in autoimmune hemolytic anemia (AIHA) and a Phase II clinical study for IgA nephropathy (IgAN). In addition, the Company has two oncology product candidates under development..