Swiss National Bank lifted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Rating) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,900 shares of the biopharmaceutical company’s stock after acquiring an additional 700 shares during the period. Swiss National Bank’s holdings in Madrigal Pharmaceuticals were worth $8,388,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $299,000. Ghost Tree Capital LLC bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $1,625,000. Assenagon Asset Management S.A. increased its stake in Madrigal Pharmaceuticals by 1,251.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 124,443 shares of the biopharmaceutical company’s stock worth $36,120,000 after purchasing an additional 115,234 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $4,274,000. Finally, Point72 Asset Management L.P. bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $1,487,000. 67.98% of the stock is currently owned by institutional investors and hedge funds.
Madrigal Pharmaceuticals Stock Up 0.7 %
Shares of MDGL opened at $292.21 on Wednesday. Madrigal Pharmaceuticals, Inc. has a twelve month low of $57.21 and a twelve month high of $322.67. The company has a 50 day moving average of $266.92 and a 200-day moving average of $224.41. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.56.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Oppenheimer increased their target price on Madrigal Pharmaceuticals from $300.00 to $350.00 in a research note on Tuesday. StockNews.com raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Finally, Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $296.00 to $336.00 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.36.
Madrigal Pharmaceuticals Company Profile
Madrigal Pharmaceuticals, Inc engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.
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