Madrigal Pharmaceuticals Target of Unusually High Options Trading (MDGL)

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was the target of unusually large options trading on Tuesday. Traders acquired 1,068 call options on the stock. This is an increase of approximately 1,404% compared to the typical daily volume of 71 call options.

NASDAQ:MDGL opened at $295.13 on Thursday. Madrigal Pharmaceuticals has a 52-week low of $15.15 and a 52-week high of $325.98. The firm has a market cap of $4.22 billion, a P/E ratio of -116.19 and a beta of 1.65.

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Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.33. research analysts anticipate that Madrigal Pharmaceuticals will post -2.42 earnings per share for the current year.

Several brokerages have issued reports on MDGL. Roth Capital boosted their target price on Madrigal Pharmaceuticals from $210.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, June 1st. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 10th. ValuEngine lowered Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. BidaskClub lowered Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 16th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $314.00 target price (up from $191.00) on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 31st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $291.43.

In other Madrigal Pharmaceuticals news, CFO Marc R. Schneebaum sold 10,099 shares of the business’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $287.46, for a total value of $2,903,058.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rebecca Taub sold 73,526 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $287.46, for a total value of $21,135,783.96. The disclosure for this sale can be found here. In the last three months, insiders sold 363,625 shares of company stock worth $104,527,643. Insiders own 56.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Rock Springs Capital Management LP raised its stake in shares of Madrigal Pharmaceuticals by 24.4% during the 4th quarter. Rock Springs Capital Management LP now owns 342,000 shares of the biopharmaceutical company’s stock valued at $31,392,000 after purchasing an additional 67,000 shares during the period. BlackRock Inc. raised its stake in shares of Madrigal Pharmaceuticals by 52.4% during the 1st quarter. BlackRock Inc. now owns 319,093 shares of the biopharmaceutical company’s stock valued at $37,268,000 after purchasing an additional 109,665 shares during the period. Perceptive Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $17,338,000. Millennium Management LLC raised its stake in shares of Madrigal Pharmaceuticals by 2,263.4% during the 1st quarter. Millennium Management LLC now owns 92,291 shares of the biopharmaceutical company’s stock valued at $10,779,000 after purchasing an additional 88,386 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Madrigal Pharmaceuticals by 12.9% during the 1st quarter. Northern Trust Corp now owns 73,640 shares of the biopharmaceutical company’s stock valued at $8,600,000 after purchasing an additional 8,393 shares during the period. Institutional investors own 44.25% of the company’s stock.

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) -selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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