Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Rheos Capital Works Inc.

Rheos Capital Works Inc. trimmed its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,215 shares of the biopharmaceutical company's stock after selling 13,000 shares during the period. Rheos Capital Works Inc. owned approximately 0.20% of Madrigal Pharmaceuticals worth $14,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rhumbline Advisers boosted its position in Madrigal Pharmaceuticals by 7.9% in the first quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock valued at $8,733,000 after buying an additional 1,924 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $1,297,000. Franklin Resources Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock valued at $1,878,000 after acquiring an additional 4,704 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $16,615,000. Finally, Prudential Financial Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 166.2% during the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after purchasing an additional 2,282 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL traded up $2.87 during mid-day trading on Thursday, hitting $297.21. 378,482 shares of the company's stock were exchanged, compared to its average volume of 364,309. The firm has a market capitalization of $6.60 billion, a P/E ratio of -11.85 and a beta of -1.08. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. The business's 50 day moving average is $297.71 and its two-hundred day moving average is $315.02. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

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 (EPS) for the quarter, topping the consensus estimate 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. During the same quarter in the previous year, the firm posted ($7.38) EPS. On average, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDGL. 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 report on Friday, May 2nd. JMP Securities restated a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Finally, 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $420.63.

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.