Investors Purchase High Volume of Madrigal Pharmaceuticals Call Options (NASDAQ:MDGL)

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was the target of unusually large options trading on Wednesday. Stock traders bought 3,012 call options on the stock. This represents an increase of 4,396% compared to the average daily volume of 67 call options.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Columbus Circle Investors raised its stake in shares of Madrigal Pharmaceuticals by 112.5% in the fourth quarter. Columbus Circle Investors now owns 55,895 shares of the biopharmaceutical company’s stock valued at $6,300,000 after acquiring an additional 29,587 shares in the last quarter. Emory University raised its stake in shares of Madrigal Pharmaceuticals by 49.6% in the fourth quarter. Emory University now owns 17,038 shares of the biopharmaceutical company’s stock valued at $1,921,000 after acquiring an additional 5,647 shares in the last quarter. Capital Impact Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 89.7% in the fourth quarter. Capital Impact Advisors LLC now owns 13,659 shares of the biopharmaceutical company’s stock valued at $1,427,000 after acquiring an additional 6,458 shares in the last quarter. Highbridge Capital Management LLC raised its stake in shares of Madrigal Pharmaceuticals by 37.5% in the fourth quarter. Highbridge Capital Management LLC now owns 13,750 shares of the biopharmaceutical company’s stock valued at $1,550,000 after acquiring an additional 3,750 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Madrigal Pharmaceuticals by 10.7% in the first quarter. Jennison Associates LLC now owns 311,020 shares of the biopharmaceutical company’s stock valued at $38,958,000 after acquiring an additional 29,949 shares in the last quarter. Institutional investors and hedge funds own 60.89% of the company’s stock.

MDGL opened at $99.00 on Thursday. Madrigal Pharmaceuticals has a 52 week low of $89.83 and a 52 week high of $322.00. The firm has a market cap of $1.52 billion, a PE ratio of -44.59 and a beta of 1.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.02. During the same period in the previous year, the business earned ($0.45) EPS. As a group, equities research analysts predict that Madrigal Pharmaceuticals will post -4.35 EPS for the current year.

Several research analysts have recently commented on MDGL shares. Svb Leerink started coverage on Madrigal Pharmaceuticals in a research report on Friday, February 22nd. They set an “outperform” rating and a $165.00 price target for the company. Citigroup lowered their price target on Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $228.00 price target (down from $313.00) on shares of Madrigal Pharmaceuticals in a research report on Thursday, February 28th. Leerink Swann started coverage on Madrigal Pharmaceuticals in a research report on Friday, February 22nd. They set an “outperform” rating for the company. Finally, ValuEngine upgraded Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Madrigal Pharmaceuticals has a consensus rating of “Buy” and an average price target of $194.11.

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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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