ProShare Advisors LLC Boosts Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

ProShare Advisors LLC raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 32.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,096 shares of the biopharmaceutical company's stock after buying an additional 1,498 shares during the quarter. ProShare Advisors LLC's holdings in Madrigal Pharmaceuticals were worth $1,881,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC increased its position in Madrigal Pharmaceuticals by 10.8% during the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock worth $267,792,000 after purchasing an additional 84,305 shares in the last quarter. Geode Capital Management LLC increased its position in Madrigal Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock worth $126,719,000 after purchasing an additional 4,923 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $114,717,000. Rock Springs Capital Management LP increased its position in Madrigal Pharmaceuticals by 0.8% during the 4th quarter. Rock Springs Capital Management LP now owns 265,212 shares of the biopharmaceutical company's stock worth $81,836,000 after purchasing an additional 2,150 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Madrigal Pharmaceuticals by 1.4% during the 4th quarter. Bank of America Corp DE now owns 217,828 shares of the biopharmaceutical company's stock worth $67,215,000 after purchasing an additional 2,940 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the stock in a transaction on 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 sale, the director now directly owns 1,912 shares of the company's stock, valued at $664,324.40. This trade represents a 89.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert E. Waltermire sold 1,227 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the sale, the vice president now directly owns 3,728 shares in the company, valued at $1,271,508.96. This represents a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,810 shares of company stock valued at $10,610,594. Corporate insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $292.76 on Wednesday. The stock has a market cap of $6.50 billion, a P/E ratio of -11.67 and a beta of -0.91. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $317.25 and a 200-day moving average of $320.79. 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 released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating the consensus estimate of ($3.62) by $0.30. The business had revenue of $137.25 million for the quarter, compared to analysts' expectations of $112.79 million. During the same quarter last year, the company posted ($7.38) earnings per share. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JMP Securities reissued a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. HC Wainwright upped their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. B. Riley restated a "buy" rating and issued a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Citigroup upped their price target on 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.

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