State Street Corp. Updates Passive Stake in Madrigal Pharma
Ticker: MDGL · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 1157601
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still holds Madrigal Pharma shares, signaling institutional confidence.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 22, 2024, indicating its ownership of Madrigal Pharmaceuticals, Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, though passive, stake in Madrigal. This matters to investors because large institutional holdings like State Street's can provide a degree of stability and confidence in the stock, as these firms typically conduct extensive due diligence before investing.
Why It Matters
This filing confirms State Street Corporation's continued significant, passive ownership in Madrigal Pharmaceuticals, which can signal institutional confidence to other investors.
Risk Assessment
Risk Level: low — This is a routine update from a large institutional investor, indicating a passive stake, which generally poses low risk.
Analyst Insight
Investors should note that State Street Corporation's continued passive holding in Madrigal Pharmaceuticals, Inc. suggests a long-term, non-activist investment perspective, which can be a positive signal for stability but doesn't imply any immediate catalysts or changes in company strategy.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Madrigal Pharmaceuticals, Inc. (company) — the subject company whose common stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
- 558868105 (number) — the CUSIP number for Madrigal Pharmaceuticals common stock
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 EXIT FILING' in the filing.
Who is the reporting person in this filing?
The reporting person is STATE STREET CORPORATION, as explicitly stated under '1. NAME OF REPORTING PERSON: STATE STREET CORPORATION'.
What is the subject company whose securities are being reported?
The subject company is MADRIGAL PHARMACEUTICALS, INC., identified as the 'NAME OF ISSUER' and 'COMPANY CONFORMED NAME: MADRIGAL PHARMACEUTICALS, INC.'.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the common stock of Madrigal Pharmaceuticals, Inc. is 558868105, as listed under 'CUSIP NO:558868105'.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified under '12/31/2023 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding MADRIGAL PHARMACEUTICALS, INC. (MDGL).