HealthCor Management L.P. increased its holdings in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 33.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 262,860 shares of the biopharmaceutical company’s stock after purchasing an additional 65,579 shares during the period. Madrigal Pharmaceuticals makes up about 1.9% of HealthCor Management L.P.’s holdings, making the stock its 23rd biggest position. HealthCor Management L.P.’s holdings in Madrigal Pharmaceuticals were worth $56,286,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Voya Investment Management LLC grew its stake in Madrigal Pharmaceuticals by 19.5% during the second quarter. Voya Investment Management LLC now owns 2,294 shares of the biopharmaceutical company’s stock worth $642,000 after purchasing an additional 374 shares during the period. Swiss National Bank grew its stake in Madrigal Pharmaceuticals by 3.3% during the second quarter. Swiss National Bank now owns 12,500 shares of the biopharmaceutical company’s stock worth $3,496,000 after purchasing an additional 400 shares during the period. Rhumbline Advisers grew its stake in Madrigal Pharmaceuticals by 7.5% during the third quarter. Rhumbline Advisers now owns 6,123 shares of the biopharmaceutical company’s stock worth $1,311,000 after purchasing an additional 429 shares during the period. SG Americas Securities LLC acquired a new stake in Madrigal Pharmaceuticals during the second quarter worth approximately $124,000. Finally, Janus Henderson Group PLC grew its stake in Madrigal Pharmaceuticals by 51.1% during the third quarter. Janus Henderson Group PLC now owns 1,343 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 454 shares during the period. 55.54% of the stock is owned by institutional investors and hedge funds.
Shares of Madrigal Pharmaceuticals stock opened at $110.24 on Friday. Madrigal Pharmaceuticals Inc has a 52 week low of $77.51 and a 52 week high of $325.98.
In other news, Director Fred B. Craves acquired 2,000 shares of Madrigal Pharmaceuticals 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul A. Friedman acquired 4,000 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, November 19th. The stock was purchased at an average cost of $124.00 per share, with a total value of $496,000.00. The disclosure for this purchase can be found here. Company insiders own 56.70% of the company’s stock.
Several equities research analysts recently commented on MDGL shares. Oppenheimer set a $200.00 target price on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 4th. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 7th. Citigroup started coverage on Madrigal Pharmaceuticals in a research note on Tuesday, September 4th. They set a “buy” rating and a $340.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $313.00 target price on shares of Madrigal Pharmaceuticals in a research note on Wednesday. Finally, Zacks Investment Research cut Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Madrigal Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $262.78.
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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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