Soleus Capital Management L.P. Acquires New Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Soleus Capital Management L.P. purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 10,900 shares of the biopharmaceutical company's stock, valued at approximately $3,363,000.

Other hedge funds have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $70,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $164,000. KBC Group NV lifted its stake in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock valued at $188,000 after purchasing an additional 258 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $203,000. Finally, Jump Financial LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $210,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Buying and Selling

In other news, VP Robert E. Waltermire sold 14,113 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This trade represents a 79.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,810 shares of company stock worth $10,610,594 in the last quarter. 21.50% of the stock is owned by insiders.

Madrigal Pharmaceuticals Stock Down 1.4%

NASDAQ:MDGL traded down $3.89 during midday trading on Thursday, hitting $273.35. 286,407 shares of the company were exchanged, compared to its average volume of 384,357. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. The company has a market capitalization of $6.07 billion, a PE ratio of -10.90 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 company has a fifty day simple moving average of $313.84 and a 200 day simple moving average of $319.89.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same quarter last year, the firm posted ($7.38) EPS. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. HC Wainwright increased their price target 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. JMP Securities reissued a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Two 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 has an average rating of "Moderate Buy" and a consensus price target of $416.33.

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.