HealthCor Management L.P. grew its stake in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 33.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 262,860 shares of the biopharmaceutical company’s stock after acquiring an additional 65,579 shares during the quarter. Madrigal Pharmaceuticals comprises about 1.9% of HealthCor Management L.P.’s portfolio, making the stock its 23rd biggest holding. HealthCor Management L.P. owned approximately 1.71% of Madrigal Pharmaceuticals worth $56,286,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at $124,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at $140,000. Public Employees Retirement Association of Colorado bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth $157,000. Stevens Capital Management LP bought a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter worth $231,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter worth $249,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.
Shares of MDGL stock opened at $110.24 on Friday. Madrigal Pharmaceuticals Inc has a twelve month low of $77.51 and a twelve month high of $325.98.
Several brokerages recently weighed in on MDGL. Oppenheimer set a $200.00 price objective on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, December 4th. BidaskClub upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. B. Riley began coverage on Madrigal Pharmaceuticals in a research report on Tuesday, December 11th. They set a “neutral” rating and a $124.00 price objective for the company. Wolfe Research began coverage on Madrigal Pharmaceuticals in a research report on Friday. They set an “outperform” rating for the company. Finally, Raymond James downgraded Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a research report on Monday, November 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $262.78.
In other news, CEO Paul A. Friedman bought 4,000 shares of the company’s stock in a transaction on Monday, November 19th. The stock was purchased at an average cost of $124.00 per share, for a total transaction of $496,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fred B. Craves bought 2,000 shares of the company’s stock in a transaction on Monday, November 19th. The stock was purchased at an average price of $124.69 per share, with a total value of $249,380.00. The disclosure for this purchase can be found here. 56.70% of the stock is currently owned by company insiders.
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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