Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 3,120 put options on the stock. This represents an increase of approximately 4,357% compared to the typical daily volume of 70 put options.
A number of hedge funds have recently made changes to their positions in MDGL. Pearl River Capital LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter worth $29,000. First Mercantile Trust Co. lifted its stake in Madrigal Pharmaceuticals by 52.2% in the 4th quarter. First Mercantile Trust Co. now owns 624 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 214 shares in the last quarter. Advisor Group Inc. lifted its stake in Madrigal Pharmaceuticals by 19.3% in the 1st quarter. Advisor Group Inc. now owns 656 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 106 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Madrigal Pharmaceuticals by 59.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 985 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 366 shares in the last quarter. Finally, Quantamental Technologies LLC lifted its stake in Madrigal Pharmaceuticals by 11.6% in the 1st quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 60.89% of the company’s stock.
A number of research analysts recently weighed in on the stock. Svb Leerink assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Friday, February 22nd. They set an “outperform” rating and a $165.00 target price on the stock. Leerink Swann assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Friday, February 22nd. They set an “outperform” rating on the stock. BidaskClub upgraded shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, February 25th. HC Wainwright restated a “buy” rating and set a $228.00 target price (down previously from $313.00) on shares of Madrigal Pharmaceuticals in a research note on Thursday, February 28th. Finally, ValuEngine upgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Madrigal Pharmaceuticals has an average rating of “Buy” and an average price target of $194.11.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced 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 in the previous year, the firm posted ($0.45) earnings per share. As a group, research analysts expect that Madrigal Pharmaceuticals will post -4.35 earnings per share for the current year.
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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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