Madrigal Pharmaceuticals Target of Unusually High Options Trading (NASDAQ:MDGL)

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was the recipient of some unusual options trading on Wednesday. Investors acquired 3,120 put options on the stock. This is an increase of 4,357% compared to the average daily volume of 70 put options.

Hedge funds have recently modified their holdings of the stock. Pearl River Capital LLC bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth $29,000. First Mercantile Trust Co. grew its position in Madrigal Pharmaceuticals by 52.2% during the 4th quarter. First Mercantile Trust Co. now owns 624 shares of the biopharmaceutical company’s stock worth $70,000 after acquiring an additional 214 shares during the last quarter. Advisor Group Inc. grew its position in Madrigal Pharmaceuticals by 19.3% during the 1st quarter. Advisor Group Inc. now owns 656 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 106 shares during the last quarter. Quantamental Technologies LLC grew its position in Madrigal Pharmaceuticals by 11.6% during the 1st quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 93 shares during the last quarter. Finally, Resources Investment Advisors Inc. bought a new stake in Madrigal Pharmaceuticals during the 1st quarter worth $121,000. Institutional investors and hedge funds own 60.89% of the company’s stock.

Several equities analysts have weighed in on the company. Zacks Investment Research raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. HC Wainwright reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 9th. BidaskClub upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Citigroup decreased their price target on Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, ValuEngine lowered Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $194.11.

Shares of 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 capitalization of $1.52 billion, a PE ratio of -44.59 and a beta of 1.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.00) by $0.02. During the same period in the prior year, the business posted ($0.45) earnings per share. On average, sell-side analysts expect that Madrigal Pharmaceuticals will post -4.35 earnings per share for the current year.

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Madrigal Pharmaceuticals Company Profile

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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