Algert Global LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Algert Global LLC purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,770 shares of the biopharmaceutical company's stock, valued at approximately $3,015,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDGL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth $70,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $164,000. KBC Group NV lifted its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after buying an additional 258 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $210,000. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $215,000. Institutional investors own 98.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MDGL shares. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. UBS Group increased their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Canaccord Genuity Group raised their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. StockNews.com upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Citigroup raised their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $416.33.

Madrigal Pharmaceuticals Trading Up 2.6%

Shares of NASDAQ MDGL traded up $7.53 during midday trading on Monday, hitting $302.17. The company's stock had a trading volume of 169,394 shares, compared to its average volume of 385,231. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $322.18 and its two-hundred day moving average is $318.60. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46. The firm has a market cap of $6.71 billion, a P/E ratio of -12.05 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, topping the consensus estimate of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to analysts' expectations of $112.79 million. During the same quarter in the previous year, the business earned ($7.38) earnings per share. As a group, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Activity

In other news, VP Robert E. Waltermire sold 14,113 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This trade represents a 79.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the sale, the director now directly owns 1,912 shares of the company's stock, valued at $664,324.40. The trade was a 89.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,810 shares of company stock worth $10,610,594. 22.80% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.