Aquatic Capital Management LLC Takes $4.64 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Aquatic Capital Management LLC bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,032 shares of the biopharmaceutical company's stock, valued at approximately $4,638,000. Aquatic Capital Management LLC owned about 0.07% of Madrigal Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MDGL. William Blair Investment Management LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $114,717,000. Hood River Capital Management LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $39,447,000. Renaissance Technologies LLC lifted its position in shares of Madrigal Pharmaceuticals by 261.3% during the 4th quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock valued at $49,613,000 after buying an additional 116,285 shares in the last quarter. Norges Bank purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $35,514,000. Finally, FMR LLC lifted its position in shares of Madrigal Pharmaceuticals by 10.8% during the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after buying an additional 84,305 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Performance

MDGL stock traded down $6.21 during trading on Thursday, reaching $327.70. The company had a trading volume of 836,522 shares, compared to its average volume of 388,871. The firm has a 50-day simple moving average of $325.41 and a 200-day simple moving average of $312.50. The company has a market cap of $7.24 billion, a price-to-earnings ratio of -13.07 and a beta of -0.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.08 and a twelve month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, topping analysts' consensus estimates of ($3.66) by $0.34. During the same quarter last year, the firm earned ($7.38) earnings per share. As a group, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on MDGL shares. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. JMP Securities reissued a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Citigroup lifted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their target price for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $409.00.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $341.07, for a total transaction of $418,492.89. Following the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at approximately $1,271,508.96. This trade represents a 24.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,810 shares of company stock worth $10,610,594. Company insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Company 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.