Vestal Point Capital LP Purchases 65,000 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Vestal Point Capital LP lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 216.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,000 shares of the biopharmaceutical company's stock after purchasing an additional 65,000 shares during the quarter. Madrigal Pharmaceuticals accounts for approximately 1.7% of Vestal Point Capital LP's holdings, making the stock its 25th biggest position. Vestal Point Capital LP owned approximately 0.44% of Madrigal Pharmaceuticals worth $29,314,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MDGL. William Blair Investment Management LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $114,717,000. Hood River Capital Management LLC bought a new stake in Madrigal Pharmaceuticals in the 4th quarter worth about $39,447,000. Renaissance Technologies LLC increased its holdings in Madrigal Pharmaceuticals by 261.3% in the 4th quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock worth $49,613,000 after buying an additional 116,285 shares in the last quarter. Norges Bank bought a new stake in Madrigal Pharmaceuticals in the 4th quarter worth about $35,514,000. Finally, FMR LLC increased its holdings in Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock worth $267,792,000 after buying an additional 84,305 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 14,113 shares of the company's stock in a transaction that occurred 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 $1,272,440.96. This represents a 79.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James M. Daly sold 15,470 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,912 shares of the company's stock, 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. In the last ninety days, insiders sold 30,810 shares of company stock valued at $10,610,594. 21.50% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded down $5.79 during midday trading on Friday, hitting $267.56. 352,361 shares of the company's stock traded hands, compared to its average volume of 383,979. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -10.67 and a beta of -0.91. 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 firm has a fifty day moving average of $313.84 and a 200 day moving average of $319.89.

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 firm had revenue of $137.25 million during the quarter, compared to analysts' expectations of $112.79 million. During the same period in the prior year, the company posted ($7.38) earnings per share. On average, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analyst Ratings Changes

MDGL has been the subject of several research analyst reports. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Finally, Citigroup lifted their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $416.33.

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.