Monashee Investment Management LLC acquired a new position in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 16,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,515,000.
Several other hedge funds have also made changes to their positions in the stock. Citadel Advisors LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $35,002,000. Jennison Associates LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $18,744,000. Victory Capital Management Inc. increased its holdings in Madrigal Pharmaceuticals by 303.9% in the 4th quarter. Victory Capital Management Inc. now owns 204,206 shares of the biopharmaceutical company’s stock worth $18,744,000 after purchasing an additional 153,650 shares in the last quarter. State Street Corp acquired a new position in Madrigal Pharmaceuticals in the 2nd quarter worth about $539,000. Finally, Northern Trust Corp increased its holdings in Madrigal Pharmaceuticals by 151.2% in the 2nd quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock worth $814,000 after purchasing an additional 30,134 shares in the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Evercore ISI reissued an “outperform” rating and issued a $175.00 price target (up previously from $140.00) on shares of Madrigal Pharmaceuticals in a research note on Thursday, February 8th. Roth Capital increased their price target on Madrigal Pharmaceuticals from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, February 9th. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $105.00 to $156.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, BidaskClub raised Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Madrigal Pharmaceuticals has an average rating of “Buy” and an average price target of $154.20.
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Madrigal Pharmaceuticals Profile
Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).
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