Polar Capital LLP Buys New Holdings in Madrigal Pharmaceuticals Inc (MDGL)

Polar Capital LLP bought a new position in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 75,000 shares of the biopharmaceutical company’s stock, valued at approximately $8,454,000. Polar Capital LLP owned 0.49% of Madrigal Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its stake in Madrigal Pharmaceuticals by 21.5% in the 3rd quarter. Capital Research Global Investors now owns 1,664,452 shares of the biopharmaceutical company’s stock worth $356,409,000 after purchasing an additional 294,200 shares in the last quarter. Vanguard Group Inc. increased its stake in Madrigal Pharmaceuticals by 52.7% in the 3rd quarter. Vanguard Group Inc. now owns 706,318 shares of the biopharmaceutical company’s stock worth $151,243,000 after purchasing an additional 243,664 shares in the last quarter. Vanguard Group Inc increased its stake in Madrigal Pharmaceuticals by 52.7% in the 3rd quarter. Vanguard Group Inc now owns 706,318 shares of the biopharmaceutical company’s stock worth $151,243,000 after purchasing an additional 243,664 shares in the last quarter. BlackRock Inc. increased its stake in Madrigal Pharmaceuticals by 17.7% in the 3rd quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock worth $123,130,000 after purchasing an additional 86,520 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in Madrigal Pharmaceuticals by 25.8% in the 4th quarter. Jennison Associates LLC now owns 281,071 shares of the biopharmaceutical company’s stock worth $31,682,000 after purchasing an additional 57,700 shares in the last quarter. 59.06% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:MDGL opened at $135.32 on Friday. Madrigal Pharmaceuticals Inc has a fifty-two week low of $91.56 and a fifty-two week high of $325.98. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -60.95 and a beta of 1.21.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.01). During the same quarter in the prior year, the firm earned ($0.67) earnings per share. As a group, equities research analysts forecast that Madrigal Pharmaceuticals Inc will post -3.81 earnings per share for the current year.

A number of equities analysts recently weighed in on the company. ValuEngine raised Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research raised Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research note on Wednesday, January 9th. BidaskClub raised Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, February 25th. Leerink Swann assumed coverage on Madrigal Pharmaceuticals in a research note on Friday, February 22nd. They issued an “outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $228.00 price target (down previously from $313.00) on shares of Madrigal Pharmaceuticals in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Madrigal Pharmaceuticals currently has an average rating of “Buy” and an average target price of $221.18.

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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. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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

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