Pictet Asset Management SA Acquires New Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Pictet Asset Management SA acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLGet Rating) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 49,598 shares of the biopharmaceutical company’s stock, valued at approximately $3,550,000.

A number of other large investors have also recently added to or reduced their stakes in MDGL. Rock Springs Capital Management LP boosted its stake in shares of Madrigal Pharmaceuticals by 1.5% during the 1st quarter. Rock Springs Capital Management LP now owns 273,500 shares of the biopharmaceutical company’s stock worth $26,836,000 after purchasing an additional 4,100 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $209,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Madrigal Pharmaceuticals by 100.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,725 shares of the biopharmaceutical company’s stock worth $481,000 after purchasing an additional 3,376 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $1,295,000. Finally, International Biotechnology Trust PLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $5,066,000. 69.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Madrigal Pharmaceuticals in a research note on Wednesday, October 12th. They set a “sell” rating on the stock.

Madrigal Pharmaceuticals Trading Up 4.3 %

Shares of MDGL stock opened at $72.80 on Monday. The firm has a market cap of $1.25 billion, a P/E ratio of -4.54 and a beta of 0.92. Madrigal Pharmaceuticals, Inc. has a 1-year low of $52.33 and a 1-year high of $105.93. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.59 and a quick ratio of 1.59. The firm’s 50-day simple moving average is $68.55 and its 200-day simple moving average is $69.48.

Madrigal Pharmaceuticals Profile

(Get Rating)

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. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

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Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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