Man Group plc Acquires Shares of 8,498 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Man Group plc acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,498 shares of the biopharmaceutical company's stock, valued at approximately $2,622,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $1,297,000. Franklin Resources Inc. grew its position in Madrigal Pharmaceuticals by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock worth $1,878,000 after purchasing an additional 4,704 shares during the period. Raymond James Financial Inc. purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $16,615,000. Barclays PLC boosted its position 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. Finally, Prudential Financial Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 166.2% in the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after buying an additional 2,282 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert E. Waltermire sold 1,227 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $341.07, for a total transaction of $418,492.89. Following the sale, the vice president now owns 3,728 shares of the company's stock, valued at $1,271,508.96. This represents a 24.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,810 shares of company stock worth $10,610,594. Corporate insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL traded up $0.36 during trading hours on Wednesday, reaching $271.93. The company had a trading volume of 42,177 shares, compared to its average volume of 382,267. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46. The business's 50 day moving average price is $309.68 and its 200-day moving average price is $318.12. The firm has a market cap of $6.04 billion, a PE ratio of -10.84 and a beta of -0.91.

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 the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million during the quarter, compared to analysts' expectations of $112.79 million. During the same period in the previous year, the firm posted ($7.38) EPS. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Upgrades and Downgrades

MDGL has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. 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 price objective on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, JMP Securities restated a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $416.33.

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.