Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 54,231 shares, a growth of 28.6% from the May 15th total of 42,174 shares. Based on an average daily trading volume, of 49,071 shares, the days-to-cover ratio is presently 1.1 days.

Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) traded down 2.63% during mid-day trading on Friday, reaching $15.55. The company’s stock had a trading volume of 16,144 shares. The stock’s market capitalization is $189.20 million. Madrigal Pharmaceuticals has a 12 month low of $6.60 and a 12 month high of $18.24. The company has a 50 day moving average price of $16.00 and a 200 day moving average price of $15.80.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.37. On average, equities research analysts anticipate that Madrigal Pharmaceuticals will post ($2.57) earnings per share for the current fiscal year.

Separately, ValuEngine upgraded Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, May 19th.

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at $321,000. Geode Capital Management LLC boosted its stake in Madrigal Pharmaceuticals by 0.8% in the first quarter. Geode Capital Management LLC now owns 25,821 shares of the biopharmaceutical company’s stock valued at $397,000 after buying an additional 216 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Madrigal Pharmaceuticals by 8.5% in the fourth quarter. Renaissance Technologies LLC now owns 57,475 shares of the biopharmaceutical company’s stock valued at $856,000 after buying an additional 4,488 shares during the last quarter. 8.72% of the stock is currently owned by institutional investors.

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Madrigal Pharmaceuticals Company 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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