3,620 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Acquired by Tema Etfs LLC

Tema Etfs LLC acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,620 shares of the biopharmaceutical company's stock, valued at approximately $1,117,000.

Several other hedge funds also recently modified their holdings of the stock. Pitcairn Co. raised its holdings in Madrigal Pharmaceuticals by 3.2% during the fourth quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company's stock worth $327,000 after acquiring an additional 33 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 5.2% during the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company's stock worth $422,000 after purchasing an additional 62 shares in the last quarter. Arizona State Retirement System boosted its holdings 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 valued at $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 fourth quarter. Summit Investment Advisors Inc. now owns 1,881 shares of the biopharmaceutical company's stock valued at $580,000 after buying an additional 104 shares in the last quarter. Finally, Xponance Inc. increased its holdings in Madrigal Pharmaceuticals by 9.8% during the fourth quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company's stock worth $391,000 after buying an additional 113 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Insiders Place Their Bets

In related news, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the sale, the vice president now directly owns 3,728 shares of the company's stock, 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 can be accessed through this link. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals 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 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. Over the last three months, insiders sold 30,810 shares of company stock worth $10,610,594. 21.50% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Trading Down 1.0%

NASDAQ MDGL traded down $2.82 during trading hours on Friday, reaching $270.53. The company's stock had a trading volume of 72,331 shares, compared to its average volume of 383,143. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $377.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The stock has a market cap of $6.01 billion, a P/E ratio of -10.78 and a beta of -0.91. The firm 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 announced 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 company had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same period in the prior year, the business earned ($7.38) earnings per share. Equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDGL has been the topic of several recent research reports. B. Riley reiterated a "buy" rating and set a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Canaccord Genuity Group increased their target price 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. JMP Securities reiterated a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. UBS Group boosted their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Citigroup raised their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price 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.