Madrigal Pharmaceuticals Inc (NASDAQ:MDGL)’s share price reached a new 52-week low on Thursday . The company traded as low as $81.01 and last traded at $81.69, with a volume of 334 shares changing hands. The stock had previously closed at $83.05.
MDGL has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 4th. BidaskClub lowered shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, November 12th. UBS Group upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price target for the company from $125.00 to $127.00 in a research report on Thursday, January 9th. Finally, Svb Leerink restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Madrigal Pharmaceuticals presently has an average rating of “Buy” and an average price target of $155.50.
The company has a market capitalization of $1.19 billion, a P/E ratio of -17.50 and a beta of 1.05. The business’s fifty day moving average price is $92.55 and its 200-day moving average price is $94.06.
In other news, major shareholder Bay City Capital Llc sold 1,200,000 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, December 13th. The shares were sold at an average price of $105.47, for a total transaction of $126,564,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 47.69% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MDGL. Tower Research Capital LLC TRC bought a new stake in Madrigal Pharmaceuticals in the third quarter worth $41,000. Metropolitan Life Insurance Co NY increased its position in shares of Madrigal Pharmaceuticals by 17.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 2,668 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 406 shares during the period. Jane Street Group LLC increased its position in shares of Madrigal Pharmaceuticals by 7.8% during the second quarter. Jane Street Group LLC now owns 2,523 shares of the biopharmaceutical company’s stock valued at $265,000 after buying an additional 183 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Madrigal Pharmaceuticals by 82.5% during the second quarter. Cubist Systematic Strategies LLC now owns 2,716 shares of the biopharmaceutical company’s stock valued at $285,000 after buying an additional 1,228 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at about $336,000. 62.05% of the stock is owned by institutional investors and hedge funds.
About Madrigal Pharmaceuticals (NASDAQ:MDGL)
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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