Jump Financial LLC Boosts Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Jump Financial LLC lifted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) by 58.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,359 shares of the biopharmaceutical company’s stock after buying an additional 868 shares during the period. Jump Financial LLC’s holdings in Madrigal Pharmaceuticals were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. California Public Employees Retirement System increased its holdings in shares of Madrigal Pharmaceuticals by 26.6% during the 3rd quarter. California Public Employees Retirement System now owns 24,858 shares of the biopharmaceutical company’s stock worth $3,630,000 after buying an additional 5,221 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 1.7% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 4,309 shares of the biopharmaceutical company’s stock worth $629,000 after buying an additional 74 shares during the last quarter. Lynwood Capital Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth approximately $730,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Madrigal Pharmaceuticals by 95.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 228 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $318,000. Institutional investors and hedge funds own 79.86% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $216.33 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $119.76 and a 1-year high of $322.67. The stock has a market cap of $4.27 billion, a PE ratio of -10.75 and a beta of -0.48. The company has a debt-to-equity ratio of 5.16, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a fifty day moving average price of $225.36 and a 200 day moving average price of $186.45.

Analyst Upgrades and Downgrades

MDGL has been the subject of several research reports. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Wednesday, February 7th. Piper Sandler lifted their target price on shares of Madrigal Pharmaceuticals from $305.00 to $336.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. JMP Securities reiterated a “market outperform” rating and issued a $383.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, November 14th. Finally, HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $225.00 to $275.00 and gave the company a “buy” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $309.14.

View Our Latest Report on Madrigal Pharmaceuticals

Insider Activity at Madrigal Pharmaceuticals

In related news, SVP Brian Joseph Lynch sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $199.19, for a total value of $796,760.00. Following the completion of the sale, the senior vice president now directly owns 15,001 shares of the company’s stock, valued at $2,988,049.19. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 2,500 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $225.40, for a total value of $563,500.00. Following the transaction, the vice president now directly owns 5,667 shares in the company, valued at $1,277,341.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brian Joseph Lynch sold 4,000 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $199.19, for a total transaction of $796,760.00. Following the completion of the transaction, the senior vice president now owns 15,001 shares in the company, valued at $2,988,049.19. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 191,879 shares of company stock valued at $38,034,357 and sold 8,300 shares valued at $1,754,226. 23.92% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Profile

(Free Report)

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor beta agonist, which is in Phase III clinical trials for treating NASH.

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

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