Morgan Stanley Discloses 6.0% Stake in Rigel Pharma (RIGL)
Ticker: RIGL · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 1034842
| Field | Detail |
|---|---|
| Company | Rigel Pharmaceuticals Inc (RIGL) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, pharmaceuticals
TL;DR
**Morgan Stanley just revealed a 6.0% stake in Rigel Pharma, signaling institutional interest.**
AI Summary
Morgan Stanley, a major financial institution, reported on February 9, 2024, that as of December 31, 2023, it holds a significant stake in Rigel Pharmaceuticals Inc. (RIGL) common stock. This filing indicates that Morgan Stanley now beneficially owns 10,742,000 shares, representing 6.0% of Rigel's outstanding common stock. This matters to investors because a large, institutional holder like Morgan Stanley taking a 6.0% position can signal confidence in Rigel's future prospects, potentially attracting other investors and influencing stock price.
Why It Matters
A major institutional investor like Morgan Stanley acquiring a 6.0% stake in Rigel Pharmaceuticals could be seen as a vote of confidence, potentially boosting investor sentiment and the stock's perceived value.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, which generally reduces perceived risk for a company.
Analyst Insight
A smart investor would research Rigel Pharmaceuticals' recent performance and future outlook, considering that a major institution like Morgan Stanley has taken a substantial position, which could signal underlying value or potential growth.
Key Numbers
- 10,742,000 — Shares Beneficially Owned (Represents Morgan Stanley's total holding in Rigel Pharmaceuticals.)
- 6.0% — Percentage of Class (Indicates Morgan Stanley's significant ownership stake in Rigel Pharmaceuticals.)
Key Players & Entities
- Morgan Stanley (company) — the reporting person and institutional investor
- Rigel Pharmaceuticals Inc. (company) — the subject company whose stock was acquired
- 10,742,000 shares (dollar_amount) — the total number of shares beneficially owned by Morgan Stanley
- 6.0% (dollar_amount) — the percentage of Rigel's common stock owned by Morgan Stanley
- December 31, 2023 (person) — the date of the event requiring the filing
- February 9, 2024 (person) — the filing date of the SC 13G
Forward-Looking Statements
- Rigel Pharmaceuticals (RIGL) stock may experience increased investor interest due to Morgan Stanley's significant stake. (Rigel Pharmaceuticals Inc.) — medium confidence, target: Q1 2024
FAQ
What is the name of the company that filed this SC 13G?
The company that filed this SC 13G is Morgan Stanley, as indicated in the 'FILED BY' section of the filing.
Which company's stock is the subject of this filing?
The subject company of this filing is RIGEL PHARMACEUTICALS INC, as stated under 'SUBJECT COMPANY' and 'Name of Issuer'.
What percentage of Rigel Pharmaceuticals Inc.'s common stock does Morgan Stanley beneficially own?
Morgan Stanley beneficially owns 6.0% of Rigel Pharmaceuticals Inc.'s common stock, as per the filing details.
How many shares of Rigel Pharmaceuticals Inc. common stock does Morgan Stanley beneficially own?
Morgan Stanley beneficially owns 10,742,000 shares of Rigel Pharmaceuticals Inc. common stock.
What was the 'Date Of Event which Requires Filing of this Statement'?
The 'Date Of Event which Requires Filing of this Statement' was December 31, 2023.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by December 31, 2023 regarding RIGEL PHARMACEUTICALS INC (RIGL).