Soleus Capital Management L.P. Purchases Shares of 10,900 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pitcairn Co. grew its stake in shares of Madrigal Pharmaceuticals by 3.2% in the 4th quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company's stock worth $327,000 after buying an additional 33 shares during the last quarter. Sanctuary Advisors LLC grew its stake 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 buying an additional 62 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Madrigal Pharmaceuticals by 2.5% in the 4th quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company's stock worth $1,165,000 after buying an additional 91 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Madrigal Pharmaceuticals by 5.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,881 shares of the biopharmaceutical company's stock worth $580,000 after buying an additional 104 shares during the last quarter. Finally, Xponance Inc. boosted its stake in Madrigal Pharmaceuticals by 9.8% during the 4th quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company's stock valued at $391,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director James M. Daly sold 15,470 shares of the firm's 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 transaction, the director now directly owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This trade represents a 89.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert E. Waltermire sold 14,113 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This represents a 79.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,810 shares of company stock worth $10,610,594 in the last ninety days. Insiders own 21.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MDGL. B. Riley reiterated a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. UBS Group increased their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, HC Wainwright increased their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $416.33.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded down $5.79 on Friday, reaching $267.56. The stock had a trading volume of 352,361 shares, compared to its average volume of 383,979. The stock has a market cap of $5.94 billion, a P/E ratio of -10.67 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company has a 50 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 released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million during the quarter, compared to analysts' expectations of $112.79 million. During the same quarter last year, the business earned ($7.38) earnings per share. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Madrigal Pharmaceuticals Company 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.