Overall market sentiment has been high on Rigel Pharmaceuticals, Inc. (RIGL) stock lately. RIGL receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With RIGL Stock Today?
Rigel Pharmaceuticals, Inc. (RIGL) stock is trading at $2.54 as of 10:03 AM on Wednesday, Aug 5, a rise of $0.08, or 3.25% from the previous closing price of $2.46. The stock has traded between $2.52 and $2.92 so far today. Volume today is light. So far 2,072,730 shares have traded compared to average volume of 13,955,905 shares.
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More About Rigel Pharmaceuticals, Inc.
Rigel Pharmaceuticals Inc develops small-molecule drugs for autoimmune, cancer-related, and viral diseases. The firm's lead drug is an oral rheumatoid arthritis drug candidate that has been licensed to AstraZeneca. Astra has taken over all responsibility to develop and market the drug and will pay Rigel royalties and milestone payments. Its pipeline product includes Fostamatinib - ITP, Fostamatinib - AIHA, Fostamatinib - IgAN, BGB324 - Oral AXL Inhibitor, ATI-50001 & 50002 - JAK Inhibitors, DS-3032-MDM2 Inhibitor, THF-beta Inhibitors and AZD0449- Inhaled JAK Inhibitor.
