Moody Aldrich Partners LLC boosted its holdings in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 106.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,467 shares of the biopharmaceutical company’s stock after buying an additional 5,395 shares during the period. Moody Aldrich Partners LLC’s holdings in Madrigal Pharmaceuticals were worth $2,241,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of MDGL. FNY Investment Advisers LLC bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth approximately $110,000. Meeder Asset Management Inc. increased its stake in Madrigal Pharmaceuticals by 296.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 436 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 326 shares during the last quarter. SG Americas Securities LLC bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth approximately $140,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $157,000. 52.84% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on MDGL shares. Oppenheimer set a $300.00 price objective on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research raised Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $264.00 price objective on the stock in a research note on Saturday, August 11th. Citigroup started coverage on Madrigal Pharmaceuticals in a research note on Tuesday, September 4th. They issued a “buy” rating and a $340.00 price objective on the stock. BidaskClub downgraded Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Goldman Sachs Group cut Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $314.00 target price for the company. in a report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $314.00.
Shares of Madrigal Pharmaceuticals stock opened at $205.00 on Friday. Madrigal Pharmaceuticals Inc has a one year low of $38.82 and a one year high of $325.98.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.18. On average, research analysts predict that Madrigal Pharmaceuticals Inc will post -2.19 EPS for the current fiscal year.
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.
Featured Article: What Is An Exchange-Traded Fund (ETF)?
Want to see what other hedge funds are holding MDGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Madrigal Pharmaceuticals Inc (NASDAQ:MDGL).
Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.