Madrigal Pharmaceuticals Inc (NASDAQ: MDGL) stock jumped 4.72% on Friday to $176.66 against a previous-day closing price of $168.69. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.44 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $176.84 whereas the lowest price it dropped to was $166.00. The 52-week range on MDGL shows that it touched its highest point at $322.67 and its lowest point at $57.21 during that stretch. It currently has a 1-year price target of $315.92. Beta for the stock currently stands at -0.57.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MDGL was up-trending over the past week, with a rise of 27.24%, but this was up by 35.56% over a month. Three-month performance dropped to -1.51% while six-month performance fell -36.13%. The stock gained 151.65% in the past year, while it has lost -39.14% so far this year. A look at the trailing 12-month EPS for MDGL yields -19.24 with Next year EPS estimates of -16.73. For the next quarter, that number is -5.21. This implies an EPS growth rate of -11.92% for this year and 13.27% for next year.
Float and Shares Shorts:
At present, 18.10 million MDGL shares are outstanding with a float of 14.24 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.41 million, which was 17.30% higher than short shares on Sep 28, 2023. In addition to Dr. Rebecca A. Taub M.D. as the firm’s Founder, Chief Medical Officer, President of Research & Development and Director, Mr. Alex G. Howarth serves as its Senior VP & CFO.
Institutional Ownership:
Through their ownership of 85.07% of MDGL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.95% of MDGL, in contrast to 30.64% held by mutual funds. Shares owned by individuals account for 29.22%. As the largest shareholder in MDGL with 15.34% of the stake, Janus Henderson Investors US LLC holds 3,024,340 shares worth 3,024,340. A second-largest stockholder of MDGL, Baker Bros. Advisors LP, holds 1,701,999 shares, controlling over 8.63% of the firm’s shares. Avoro Capital Advisor LLC is the third largest shareholder in MDGL, holding 1,555,000 shares or 7.89% stake. With a 2.50% stake in MDGL, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 492,339 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.07% of MDGL stock, is the second-largest Mutual Fund holder. It holds 407,302 shares valued at 53.51 million. SPDR S&P Biotech ETF holds 1.99% of the stake in MDGL, owning 392,475 shares worth 51.56 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MDGL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MDGL analysts setting a high price target of $383.00 and a low target of $154.00, the average target price over the next 12 months is $315.92. Based on these targets, MDGL could surge 116.8% to reach the target high and fall by -12.83% to reach the target low. Reaching the average price target will result in a growth of 78.83% from current levels.
Summary of Insider Activity:
Insiders traded MDGL stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 50,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 58 over the past year. The total number of shares bought during that period was 243,006 while 82,489 shares were sold.
