GAMMA Investing LLC Increases Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

GAMMA Investing LLC raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 76,537.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,085 shares of the biopharmaceutical company's stock after buying an additional 39,034 shares during the quarter. GAMMA Investing LLC owned about 0.18% of Madrigal Pharmaceuticals worth $12,946,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $1,297,000. Rhumbline Advisers boosted its stake in shares of Madrigal Pharmaceuticals by 1.0% during the 4th quarter. Rhumbline Advisers now owns 24,440 shares of the biopharmaceutical company's stock valued at $7,541,000 after purchasing an additional 243 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 5.2% in the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company's stock worth $422,000 after acquiring an additional 62 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $221,000. Finally, Kornitzer Capital Management Inc. KS bought a new position in Madrigal Pharmaceuticals in the fourth quarter worth $4,554,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDGL has been the subject of a number of analyst reports. UBS Group raised their price objective on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Canaccord Genuity Group lifted their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, Citigroup lifted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $416.33.

Madrigal Pharmaceuticals Stock Performance

MDGL traded up $2.08 during midday trading on Tuesday, hitting $282.32. 143,415 shares of the company traded hands, compared to its average volume of 368,862. The company's 50-day moving average is $298.11 and its 200 day moving average is $315.16. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $6.27 billion, a PE ratio of -11.26 and a beta of -1.08. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $377.46.

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, beating analysts' consensus estimates 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. During the same quarter last year, the company earned ($7.38) EPS. On average, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS 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.