1,001 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Bought by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP purchased a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,001 shares of the biopharmaceutical company's stock, valued at approximately $309,000.

A number of other large investors also recently modified their holdings of MDGL. Barclays PLC lifted its position in shares of Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock worth $8,549,000 after buying an additional 24,783 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $216,000. KBC Group NV lifted its position in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock valued at $188,000 after purchasing an additional 258 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Madrigal Pharmaceuticals by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,625 shares of the biopharmaceutical company's stock valued at $1,427,000 after purchasing an additional 449 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $1,297,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded down $1.74 on Friday, reaching $290.08. The stock had a trading volume of 85,311 shares, compared to its average volume of 384,363. The business's 50-day moving average price is $318.87 and its two-hundred day moving average price is $319.33. 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 fifty-two week low of $200.63 and a fifty-two week high of $377.46. The stock has a market cap of $6.44 billion, a P/E ratio of -11.59 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. During the same quarter in the previous year, the firm posted ($7.38) earnings per share. On average, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert E. Waltermire sold 1,227 shares of the business's stock in a transaction 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 completion of the sale, the vice president now directly owns 3,728 shares in the company, valued at $1,271,508.96. This trade represents a 24.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,810 shares of company stock worth $10,610,594 in the last ninety days. 22.80% of the stock is currently owned by 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.