Bank of Nova Scotia bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Rating) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,306 shares of the biopharmaceutical company’s stock, valued at approximately $379,000.
A number of other hedge funds also recently added to or reduced their stakes in MDGL. Allspring Global Investments Holdings LLC lifted its stake in Madrigal Pharmaceuticals by 42.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,190 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 352 shares during the last quarter. Liberty One Investment Management LLC raised its stake in shares of Madrigal Pharmaceuticals by 10.5% during the third quarter. Liberty One Investment Management LLC now owns 1,929 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 183 shares in the last quarter. EWG Elevate Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $145,000. BNP Paribas Arbitrage SA raised its stake in shares of Madrigal Pharmaceuticals by 177.8% during the second quarter. BNP Paribas Arbitrage SA now owns 2,756 shares of the biopharmaceutical company’s stock valued at $197,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $203,000. 67.98% of the stock is currently owned by institutional investors.
Madrigal Pharmaceuticals Trading Up 3.6 %
NASDAQ MDGL opened at $292.28 on Thursday. The stock’s 50-day moving average price is $270.03 and its two-hundred day moving average price is $231.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.37 and a current ratio of 3.37. Madrigal Pharmaceuticals, Inc. has a 1 year low of $57.21 and a 1 year high of $322.67.
Analyst Ratings Changes
MDGL has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their price objective on shares of Madrigal Pharmaceuticals from $296.00 to $336.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. StockNews.com cut shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 20th. Finally, Oppenheimer lifted their price objective on shares of Madrigal Pharmaceuticals from $300.00 to $350.00 in a research note on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $312.36.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.
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