Alps Advisors Inc. Acquires 8,378 Shares of Madrigal Pharmaceuticals Inc (MDGL)
Alps Advisors Inc. grew its holdings in Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 30.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,572 shares of the biopharmaceutical company’s stock after acquiring an additional 8,378 shares during the quarter. Alps Advisors Inc. owned 0.23% of Madrigal Pharmaceuticals worth $4,010,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Capital Research Global Investors raised its stake in 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 valued at $356,409,000 after purchasing an additional 294,200 shares in the last quarter. Vanguard Group Inc raised its stake in Madrigal Pharmaceuticals by 52.7% in the third quarter. Vanguard Group Inc now owns 706,318 shares of the biopharmaceutical company’s stock valued at $151,243,000 after purchasing an additional 243,664 shares in the last quarter. Vanguard Group Inc. raised its stake in Madrigal Pharmaceuticals by 52.7% in the third quarter. Vanguard Group Inc. now owns 706,318 shares of the biopharmaceutical company’s stock valued at $151,243,000 after purchasing an additional 243,664 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Madrigal Pharmaceuticals in the third quarter valued at about $20,300,000. Finally, BlackRock Inc. raised its stake in Madrigal Pharmaceuticals by 17.7% in the third quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock valued at $123,130,000 after purchasing an additional 86,520 shares in the last quarter. 56.07% of the stock is owned by institutional investors.
Shares of NASDAQ MDGL opened at $116.36 on Friday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -45.81 and a beta of 1.22. Madrigal Pharmaceuticals Inc has a 12 month low of $91.56 and a 12 month high of $325.98.
In other Madrigal Pharmaceuticals news, Director Fred B. Craves bought 2,000 shares of the stock in a transaction on Monday, November 19th. The stock was purchased at an average price 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 available at this link. Also, CEO Paul A. Friedman bought 4,000 shares of the stock in a transaction on Monday, November 19th. The shares were acquired at an average cost of $124.00 per share, with a total value of $496,000.00. The disclosure for this purchase can be found here. 56.70% of the stock is currently owned by insiders.
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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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