PFM Health Sciences LP Purchases Shares of 82,534 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

PFM Health Sciences LP purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 82,534 shares of the biopharmaceutical company’s stock, valued at approximately $9,654,000. PFM Health Sciences LP owned 0.50% of Madrigal Pharmaceuticals as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Madrigal Pharmaceuticals by 1.2% in the 1st quarter. BlackRock Inc. now owns 956,096 shares of the biopharmaceutical company’s stock worth $111,836,000 after purchasing an additional 11,678 shares during the period. Armistice Capital LLC increased its stake in shares of Madrigal Pharmaceuticals by 10.8% in the 1st quarter. Armistice Capital LLC now owns 350,000 shares of the biopharmaceutical company’s stock worth $40,940,000 after acquiring an additional 34,000 shares in the last quarter. Morgan Stanley increased its stake in shares of Madrigal Pharmaceuticals by 409.6% in the 1st quarter. Morgan Stanley now owns 262,898 shares of the biopharmaceutical company’s stock worth $30,751,000 after acquiring an additional 211,311 shares in the last quarter. Rock Springs Capital Management LP increased its stake in shares of Madrigal Pharmaceuticals by 0.7% in the 1st quarter. Rock Springs Capital Management LP now owns 258,500 shares of the biopharmaceutical company’s stock worth $30,237,000 after acquiring an additional 1,732 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of Madrigal Pharmaceuticals by 1.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 214,425 shares of the biopharmaceutical company’s stock worth $25,081,000 after acquiring an additional 4,045 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Shares of MDGL stock traded down $0.78 during mid-day trading on Thursday, hitting $92.83. 803 shares of the stock traded hands, compared to its average volume of 172,599. Madrigal Pharmaceuticals, Inc. has a 52-week low of $90.81 and a 52-week high of $142.62. The stock’s fifty day moving average price is $107.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, May 6th. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.85) by $0.53. As a group, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -14.64 EPS for the current year.

Several research analysts recently issued reports on MDGL shares. Canaccord Genuity increased their price target on shares of Madrigal Pharmaceuticals from $179.00 to $193.00 and gave the stock a “buy” rating in a research note on Monday, May 17th. B. Riley reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, June 28th. Finally, Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Thursday, July 15th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Madrigal Pharmaceuticals has an average rating of “Buy” and a consensus price target of $163.10.

About Madrigal Pharmaceuticals

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 MGL-3196, a liver-directed selective thyroid hormone receptor-Ã agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

See Also: Retained Earnings

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

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