Citadel Advisors LLC bought a new stake in Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 381,327 shares of the biopharmaceutical company’s stock, valued at approximately $35,002,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDGL. Jennison Associates LLC purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $18,744,000. Victory Capital Management Inc. boosted its stake in Madrigal Pharmaceuticals by 303.9% in the fourth quarter. Victory Capital Management Inc. now owns 204,206 shares of the biopharmaceutical company’s stock valued at $18,744,000 after acquiring an additional 153,650 shares during the last quarter. State Street Corp purchased a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $539,000. Northern Trust Corp lifted its stake in shares of Madrigal Pharmaceuticals by 151.2% during the 2nd quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock valued at $814,000 after buying an additional 30,134 shares in the last quarter. Finally, VHCP Management II LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $1,349,000. Hedge funds and other institutional investors own 21.71% of the company’s stock.
A number of analysts recently commented on MDGL shares. Zacks Investment Research cut shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $105.00 to $156.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Roth Capital upped their price target on shares of Madrigal Pharmaceuticals from $82.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, December 11th. BidaskClub upgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. Finally, JMP Securities upped their price target on shares of Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Madrigal Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $154.20.
Shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) opened at $135.11 on Monday. The company has a market cap of $1,890.00, a P/E ratio of -54.92 and a beta of 1.19. Madrigal Pharmaceuticals Inc has a 52 week low of $13.09 and a 52 week high of $154.75.
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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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