Victory Capital Management Inc. acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,556 shares of the biopharmaceutical company’s stock, valued at approximately $2,274,000. Victory Capital Management Inc. owned approximately 0.40% of Madrigal Pharmaceuticals as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDGL. Shikiar Asset Management Inc. grew its stake in Madrigal Pharmaceuticals by 52.8% during the third quarter. Shikiar Asset Management Inc. now owns 23,141 shares of the biopharmaceutical company’s stock worth $1,041,000 after buying an additional 8,000 shares in the last quarter. Citigroup Inc. bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $185,000. New York State Common Retirement Fund bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $109,000. Bank of New York Mellon Corp bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $179,000. Finally, TIAA CREF Investment Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $120,000. 21.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of Madrigal Pharmaceuticals in a report on Friday, September 22nd. They issued an “outperform” rating and a $65.00 price objective for the company. HC Wainwright assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 29th. They set a “buy” rating and a $54.00 target price for the company. JMP Securities raised their price objective on shares of Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. Finally, Roth Capital assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, October 19th. They set a “buy” rating and a $62.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $66.00.
Shares of Madrigal Pharmaceuticals, Inc. (MDGL) traded down $1.74 during trading hours on Monday, reaching $47.98. The company’s stock had a trading volume of 99,043 shares, compared to its average volume of 43,891. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $13.09 and a fifty-two week high of $53.00.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.11. equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -2.57 earnings per share for the current year.
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About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).
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