Perceptive Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 188,893 shares of the biopharmaceutical company’s stock, valued at approximately $17,338,000. Perceptive Advisors LLC owned about 1.35% of Madrigal Pharmaceuticals at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. purchased a new position in shares of Madrigal Pharmaceuticals in the second quarter valued at $225,000. TIAA CREF Investment Management LLC purchased a new position in shares of Madrigal Pharmaceuticals in the second quarter valued at $120,000. New York State Common Retirement Fund purchased a new position in shares of Madrigal Pharmaceuticals in the second quarter valued at $109,000. Northern Trust Corp grew its holdings in shares of Madrigal Pharmaceuticals by 151.2% in the second quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock valued at $814,000 after purchasing an additional 30,134 shares in the last quarter. Finally, State Street Corp purchased a new position in shares of Madrigal Pharmaceuticals in the second quarter valued at $539,000. Hedge funds and other institutional investors own 36.54% of the company’s stock.
Madrigal Pharmaceuticals Inc (NASDAQ MDGL) opened at $138.75 on Monday. Madrigal Pharmaceuticals Inc has a fifty-two week low of $13.09 and a fifty-two week high of $154.75. The firm has a market cap of $1,942.74, a price-to-earnings ratio of -54.63 and a beta of 1.32.
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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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