Madrigal Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:MDGL)

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was the target of some unusual options trading activity on Wednesday. Stock traders purchased 3,012 call options on the company. This is an increase of 4,396% compared to the average volume of 67 call options.

Large investors have recently modified their holdings of the company. Pearl River Capital LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $29,000. First Mercantile Trust Co. lifted its position in shares of Madrigal Pharmaceuticals by 52.2% during the 4th quarter. First Mercantile Trust Co. now owns 624 shares of the biopharmaceutical company’s stock worth $70,000 after buying an additional 214 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Madrigal Pharmaceuticals by 19.3% during the 1st quarter. Advisor Group Inc. now owns 656 shares of the biopharmaceutical company’s stock worth $82,000 after buying an additional 106 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Madrigal Pharmaceuticals by 59.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 985 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 366 shares during the last quarter. Finally, Quantamental Technologies LLC lifted its position in shares of Madrigal Pharmaceuticals by 11.6% during the 1st quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 60.89% of the company’s stock.

NASDAQ MDGL opened at $99.00 on Thursday. Madrigal Pharmaceuticals has a 52 week low of $89.83 and a 52 week high of $322.00. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -44.59 and a beta of 1.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.02. During the same quarter last year, the firm posted ($0.45) EPS. Equities analysts forecast that Madrigal Pharmaceuticals will post -4.35 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 18th. BidaskClub upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday. ValuEngine cut shares of Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $126.00 to $128.00 in a report on Monday. Finally, HC Wainwright restated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $194.11.

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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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