During the last session, Rigel Pharmaceuticals Inc. (NASDAQ:RIGL)’s traded shares were 1.73 million, with the beta value of the company hitting 0.71. At the end of the trading day, the stock’s price was $1.33, reflecting an intraday loss of -6.34% or -$0.09. The 52-week high for the RIGL share is $2.04, that puts it down -53.38 from that peak though still a striking 51.88% gain since the share price plummeted to a 52-week low of $0.64. The company’s market capitalization is $190.07M, and the average intraday trading volume over the past 10 days was 5.29 million shares, and the average trade volume was 3.18 million shares over the past three months.
Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) trade information
Rigel Pharmaceuticals Inc. (RIGL) registered a -6.34% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -6.34% in intraday trading to $1.33 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -26.92%, and it has moved by 17.70% in 30 days. Based on these gigs, the overall price performance for the year is -32.83%. The short interest in Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) is 8.1 million shares and it means that shorts have 5.55 day(s) to cover.
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Rigel Pharmaceuticals Inc. (RIGL) estimates and forecasts
Statistics show that Rigel Pharmaceuticals Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Rigel Pharmaceuticals Inc. (RIGL) shares have gone up 70.51% during the last six months, with a year-to-date growth rate less than the industry average at 11.76% against 13.20. In the rating firms’ projections, revenue will decrease -8.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $25.7 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $26.81 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $29.82 million and $22.61 million respectively. In this case, analysts expect current quarter sales to shrink by -13.80% and then jump by 18.60% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 11.30%. While earnings are projected to return -223.30% in 2023.
Rigel Pharmaceuticals Inc. is due to release its next quarterly earnings between July 31 and August 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Rigel Pharmaceuticals Inc. (NASDAQ:RIGL)’s Major holders
Rigel Pharmaceuticals Inc. insiders own 1.44% of total outstanding shares while institutional holders control 69.91%, with the float percentage being 70.93%. Armistice Capital, LLC is the largest shareholder of the company, while 169 institutions own stock in it. As of Mar 30, 2023, the company held over 17.02 million shares (or 9.80% of all shares), a total value of $22.47 million in shares.
The next largest institutional holding, with 14.12 million shares, is of Blackrock Inc.’s that is approximately 8.13% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $18.64 million.
Also, the Mutual Funds coming in first place with the largest holdings of Rigel Pharmaceuticals Inc. (RIGL) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 5.16 million shares. This amounts to just over 2.97 percent of the company’s overall shares, with a $7.73 million market value. The same data shows that the other fund manager holds slightly less at 3.79 million, or about 2.18% of the stock, which is worth about $5.72 million.