Bayesian Capital Management LP Grows Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Bayesian Capital Management LP raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 137.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,573 shares of the biopharmaceutical company's stock after acquiring an additional 2,071 shares during the period. Bayesian Capital Management LP's holdings in Madrigal Pharmaceuticals were worth $1,103,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MDGL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth $70,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $164,000. KBC Group NV raised its position in 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 acquiring an additional 258 shares during the period. Jump Financial LLC purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $210,000. Finally, Farringdon Capital Ltd. bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at approximately $215,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MDGL. UBS Group upped their price objective on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Canaccord Genuity Group boosted their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. StockNews.com raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday. Finally, B. Riley reiterated a "buy" rating and issued a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $416.33.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL traded down $4.93 on Friday, hitting $294.64. The stock had a trading volume of 305,937 shares, compared to its average volume of 385,454. The firm has a 50-day moving average of $322.72 and a 200-day moving average of $316.38. 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 52-week low of $200.63 and a 52-week high of $377.46. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of -11.75 and a beta of -0.91.

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

Insider Transactions at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction 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 represents a 79.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James M. Daly sold 15,470 shares of the company's stock in a transaction that occurred 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 approximately $664,324.40. This represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,810 shares of company stock valued at $10,610,594 in the last quarter. 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.