Tema Etfs LLC Takes Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Tema Etfs LLC purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,620 shares of the biopharmaceutical company's stock, valued at approximately $1,117,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDGL. William Blair Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $114,717,000. Hood River Capital Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $39,447,000. Renaissance Technologies LLC raised its position in shares of Madrigal Pharmaceuticals by 261.3% in the fourth quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock valued at $49,613,000 after buying an additional 116,285 shares in the last quarter. Norges Bank acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $35,514,000. Finally, FMR LLC raised its position in shares of Madrigal Pharmaceuticals by 10.8% in the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after buying an additional 84,305 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDGL. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. StockNews.com raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Canaccord Genuity Group lifted their price objective on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group lifted their price objective on shares of 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 lifted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 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 assigned a buy rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $416.33.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded up $2.04 during midday trading on Tuesday, reaching $292.76. 313,954 shares of the company were exchanged, compared to its average volume of 385,972. The stock's 50-day moving average price is $317.25 and its 200-day moving average price is $320.79. The stock has a market cap of $6.50 billion, a P/E ratio of -11.67 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a one year low of $200.63 and a one year high of $377.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly 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 business 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. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 14,113 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total value of $4,817,049.16. Following the transaction, the vice president now owns 3,728 shares in the company, valued at $1,272,440.96. The trade was a 79.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James M. Daly sold 15,470 shares of the business's 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 owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was a 89.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,810 shares of company stock worth $10,610,594. Company insiders own 21.50% of the company's stock.

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.