Macquarie Group Ltd. grew its stake in Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 37.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,700 shares of the biopharmaceutical company’s stock after buying an additional 8,900 shares during the period. Macquarie Group Ltd. owned 0.21% of Madrigal Pharmaceuticals worth $7,002,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. HealthCor Management L.P. grew its stake in Madrigal Pharmaceuticals by 33.2% in the third quarter. HealthCor Management L.P. now owns 262,860 shares of the biopharmaceutical company’s stock valued at $56,286,000 after acquiring an additional 65,579 shares during the period. MetLife Investment Advisors LLC grew its stake in Madrigal Pharmaceuticals by 81.0% in the third quarter. MetLife Investment Advisors LLC now owns 4,890 shares of the biopharmaceutical company’s stock valued at $1,047,000 after acquiring an additional 2,189 shares during the period. Nexthera Capital LP acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $857,000. Point72 Asset Management L.P. bought a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $20,300,000. Finally, Verition Fund Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $394,000. 55.53% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on the company. UBS Group assumed coverage on Madrigal Pharmaceuticals in a report on Wednesday. They issued a “neutral” rating and a $119.00 target price on the stock. Zacks Investment Research lowered Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, December 31st. Wolfe Research assumed coverage on Madrigal Pharmaceuticals in a report on Friday, December 14th. They issued an “outperform” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $313.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $235.30.
MDGL stock traded down $4.76 during mid-day trading on Wednesday, hitting $108.96. 180,637 shares of the stock were exchanged, compared to its average volume of 209,856. Madrigal Pharmaceuticals Inc has a 12 month low of $91.56 and a 12 month high of $325.98. The firm has a market cap of $1.85 billion, a P/E ratio of -42.90 and a beta of 1.32.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.03). On average, equities analysts expect that Madrigal Pharmaceuticals Inc will post -2.21 earnings per share for the current fiscal year.
In other Madrigal Pharmaceuticals news, CEO Paul A. Friedman purchased 4,000 shares of the stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $124.00 per share, with a total value of $496,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Fred B. Craves purchased 2,000 shares of the stock in a transaction on Monday, November 19th. The shares were acquired at an average cost of $124.69 per share, with a total value of $249,380.00. The disclosure for this purchase can be found here. Insiders own 56.70% of the company’s stock.
Madrigal Pharmaceuticals Company Profile
Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.
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