Victory Capital Management Inc. cut its stake in Madrigal Pharmaceuticals (NASDAQ:MDGL) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,982 shares of the biopharmaceutical company’s stock after selling 1,224 shares during the period. Victory Capital Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $23,707,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Citadel Advisors LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $35,002,000. Rock Springs Capital Management LP raised its holdings in Madrigal Pharmaceuticals by 24.4% in the 4th quarter. Rock Springs Capital Management LP now owns 342,000 shares of the biopharmaceutical company’s stock valued at $31,392,000 after acquiring an additional 67,000 shares in the last quarter. BlackRock Inc. raised its holdings in Madrigal Pharmaceuticals by 14.0% in the 4th quarter. BlackRock Inc. now owns 209,428 shares of the biopharmaceutical company’s stock valued at $19,223,000 after acquiring an additional 25,650 shares in the last quarter. Jennison Associates LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $18,744,000. Finally, Perceptive Advisors LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $17,338,000. 36.25% of the stock is owned by hedge funds and other institutional investors.
Madrigal Pharmaceuticals stock opened at $131.97 on Friday. Madrigal Pharmaceuticals has a 52 week low of $13.09 and a 52 week high of $154.75.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.33. sell-side analysts predict that Madrigal Pharmaceuticals will post -2.48 earnings per share for the current fiscal year.
MDGL has been the subject of several analyst reports. BidaskClub raised Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 20th. Goldman Sachs began coverage on Madrigal Pharmaceuticals in a report on Friday, March 23rd. They set a “buy” rating and a $191.00 price target for the company. Zacks Investment Research cut Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. HC Wainwright boosted their price target on Madrigal Pharmaceuticals from $105.00 to $156.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, ValuEngine raised Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $159.86.
About Madrigal Pharmaceuticals
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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