Stock Traders Purchase Large Volume of Put Options on Madrigal Pharmaceuticals (NASDAQ:MDGL)

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.



MDGL opened at $99.00 on Thursday. The firm has a market cap of $1.52 billion, a P/E ratio of -44.59 and a beta of 1.18. Madrigal Pharmaceuticals has a fifty-two week low of $89.83 and a fifty-two week high of $322.00.

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.

TRADEMARK VIOLATION NOTICE: “Stock Traders Purchase Large Volume of Put Options on Madrigal Pharmaceuticals (NASDAQ:MDGL)” was published by Dakota Financial News and is owned by of Dakota Financial News. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://dakotafinancialnews.com/2019/06/13/stock-traders-purchase-large-volume-of-put-options-on-madrigal-pharmaceuticals-nasdaqmdgl.html.

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.

See Also: What are Institutional Investors?

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.