D.A. Davidson & CO. Has $200,000 Stake in Madrigal Pharmaceuticals Inc (MDGL)

D.A. Davidson & CO. reduced its position in Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 8.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,775 shares of the biopharmaceutical company’s stock after selling 160 shares during the quarter. D.A. Davidson & CO.’s holdings in Madrigal Pharmaceuticals were worth $200,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MDGL. Capital Research Global Investors increased its position in shares of Madrigal Pharmaceuticals by 21.5% in the third quarter. Capital Research Global Investors now owns 1,664,452 shares of the biopharmaceutical company’s stock worth $356,409,000 after acquiring an additional 294,200 shares in the last quarter. Vanguard Group Inc increased its position in shares of Madrigal Pharmaceuticals by 52.7% in the third quarter. Vanguard Group Inc now owns 706,318 shares of the biopharmaceutical company’s stock worth $151,243,000 after acquiring an additional 243,664 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Madrigal Pharmaceuticals by 52.7% in the third quarter. Vanguard Group Inc. now owns 706,318 shares of the biopharmaceutical company’s stock worth $151,243,000 after acquiring an additional 243,664 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Madrigal Pharmaceuticals in the third quarter worth approximately $20,300,000. Finally, BlackRock Inc. increased its position in shares of Madrigal Pharmaceuticals by 17.7% in the third quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock worth $123,130,000 after acquiring an additional 86,520 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Fred B. Craves acquired 2,000 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average cost of $124.69 per share, with a total value of $249,380.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul A. Friedman acquired 4,000 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were bought at an average cost of $124.00 per share, for a total transaction of $496,000.00. The disclosure for this purchase can be found here. Insiders own 56.70% of the company’s stock.

Several research firms have recently weighed in on MDGL. B. Riley began coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, December 11th. They issued a “neutral” rating and a $124.00 target price on the stock. Raymond James downgraded shares of Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a research report on Monday, November 19th. Wolfe Research began coverage on shares of Madrigal Pharmaceuticals in a research report on Friday, December 14th. They issued an “outperform” rating on the stock. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $313.00 target price on shares of Madrigal Pharmaceuticals in a research report on Wednesday, December 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $235.30.

Shares of MDGL opened at $118.14 on Thursday. Madrigal Pharmaceuticals Inc has a 52 week low of $91.56 and a 52 week high of $325.98. The company has a market cap of $1.87 billion, a P/E ratio of -46.51 and a beta of 1.22.

ILLEGAL ACTIVITY WARNING: “D.A. Davidson & CO. Has $200,000 Stake in Madrigal Pharmaceuticals Inc (MDGL)” was first published by Stock Observer and is the property of of Stock Observer. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.thestockobserver.com/2019/02/14/d-a-davidson-co-has-200000-stake-in-madrigal-pharmaceuticals-inc-mdgl.html.

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.

See Also: Quick Ratio

Want to see what other hedge funds are holding MDGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Madrigal Pharmaceuticals Inc (NASDAQ:MDGL).

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

Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply