Let’s now review hedge fund activity in other stocks similar to Madrigal Pharmaceuticals Inc (NASDAQ:MDGL). These stocks are QuinStreet Inc (NASDAQ:QNST), Ocean Rig UDW Inc (NASDAQ:ORIG), Twin Disc, Incorporated (NASDAQ:TWIN), and Talend SA ADR (NASDAQ:TLND). This group of stocks’ market values are similar to MDGL’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $20 million. That figure was $4 million in MDGL’s case. QuinStreet Inc (NASDAQ:QNST) is the most popular stock in this table. On the other hand Twin Disc, Incorporated (NASDAQ:TWIN) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) is even less popular than TWIN and TLND. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock.