Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Bought by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust boosted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 88.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,238 shares of the biopharmaceutical company's stock after acquiring an additional 16,582 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.16% of Madrigal Pharmaceuticals worth $11,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Xponance Inc. increased its stake in Madrigal Pharmaceuticals by 7.2% in the 1st quarter. Xponance Inc. now owns 1,359 shares of the biopharmaceutical company's stock worth $450,000 after acquiring an additional 91 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Madrigal Pharmaceuticals by 1.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,270 shares of the biopharmaceutical company's stock worth $5,058,000 after acquiring an additional 269 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Madrigal Pharmaceuticals by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 60,789 shares of the biopharmaceutical company's stock worth $20,135,000 after acquiring an additional 579 shares during the last quarter. GF Fund Management CO. LTD. increased its stake in Madrigal Pharmaceuticals by 21.8% in the 1st quarter. GF Fund Management CO. LTD. now owns 558 shares of the biopharmaceutical company's stock worth $185,000 after acquiring an additional 100 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in Madrigal Pharmaceuticals by 203.9% in the 1st quarter. D.A. Davidson & CO. now owns 2,173 shares of the biopharmaceutical company's stock worth $720,000 after acquiring an additional 1,458 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Stock Down 2.7%

NASDAQ MDGL traded down $8.73 during trading on Tuesday, reaching $311.14. 273,763 shares of the company's stock traded hands, compared to its average volume of 357,793. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.91 and a quick ratio of 5.58. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -17.24 and a beta of -1.05. The company's 50 day simple moving average is $288.60 and its two-hundred day simple moving average is $311.73. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-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) earnings per share for the quarter, topping the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. Madrigal Pharmaceuticals had a negative net margin of 123.38% and a negative return on equity of 50.54%. During the same quarter in the previous year, the firm earned ($7.38) EPS. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MDGL. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a report on Friday, May 2nd. UBS Group increased their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. B. Riley restated a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two research 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, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $420.63.

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.