Bridgefront Capital LLC Buys Shares of 1,084 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Bridgefront Capital LLC purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,084 shares of the biopharmaceutical company's stock, valued at approximately $334,000.

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

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock traded down $4.93 during midday trading on Friday, hitting $294.64. 305,937 shares of the company were exchanged, compared to its average volume of 386,062. The business has a fifty day simple moving average of $322.18 and a two-hundred day simple moving average of $317.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The firm has a market capitalization of $6.54 billion, a PE ratio of -11.75 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its 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 firm had revenue of $137.25 million for the quarter, compared to analysts' expectations of $112.79 million. During the same period last year, the firm earned ($7.38) earnings per share. On average, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MDGL shares. UBS Group increased their price objective on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, StockNews.com raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $416.33.

Insiders Place Their Bets

In related news, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction dated 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 transaction, the director now owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction that occurred 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 owns 3,728 shares in the company, valued at $1,272,440.96. This represents a 79.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,810 shares of company stock worth $10,610,594. Company insiders own 22.80% of the company's stock.

About Madrigal Pharmaceuticals

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.