Cannon Global Investment Management LLC Buys Shares of 1,500 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Cannon Global Investment Management LLC bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,500 shares of the biopharmaceutical company's stock, valued at approximately $497,000. Madrigal Pharmaceuticals accounts for about 0.9% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 25th largest position.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in Madrigal Pharmaceuticals by 825.0% in the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 99 shares during the period. GAMMA Investing LLC grew its stake in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 67 shares during the period. Parallel Advisors LLC grew its stake in Madrigal Pharmaceuticals by 42.7% in the first quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 85 shares during the period. Kozak & Associates Inc. acquired a new stake in Madrigal Pharmaceuticals in the first quarter valued at approximately $104,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $141,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Canaccord Genuity Group lifted their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. B. Riley reaffirmed a "buy" rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. UBS Group lifted their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $420.63.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock traded down $1.67 during mid-day trading on Friday, reaching $298.49. 108,674 shares of the company's stock were exchanged, compared to its average volume of 359,776. The business's fifty day simple moving average is $291.28 and its 200 day simple moving average is $311.89. The firm has a market capitalization of $6.63 billion, a PE ratio of -16.54 and a beta of -1.05. Madrigal Pharmaceuticals, Inc. has a one year low of $200.63 and a one year high of $377.46. The company has a quick ratio of 5.58, a current ratio of 5.91 and a debt-to-equity ratio of 0.17.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The business had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. Madrigal Pharmaceuticals had a negative return on equity of 50.54% and a negative net margin of 123.38%. During the same period last year, the company posted ($7.38) earnings per share. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

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.