Vestal Point Capital LP Grows Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Vestal Point Capital LP increased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 216.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,000 shares of the biopharmaceutical company's stock after acquiring an additional 65,000 shares during the period. Madrigal Pharmaceuticals makes up 1.7% of Vestal Point Capital LP's investment portfolio, making the stock its 25th largest holding. Vestal Point Capital LP owned about 0.44% of Madrigal Pharmaceuticals worth $29,314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDGL. FMR LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 10.8% during the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after purchasing an additional 84,305 shares during the last quarter. Geode Capital Management LLC increased its position in Madrigal Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after buying an additional 4,923 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Madrigal Pharmaceuticals during the fourth quarter valued at $114,717,000. Rock Springs Capital Management LP raised its stake in Madrigal Pharmaceuticals by 0.8% during the fourth quarter. Rock Springs Capital Management LP now owns 265,212 shares of the biopharmaceutical company's stock valued at $81,836,000 after buying an additional 2,150 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Madrigal Pharmaceuticals by 1.4% in the fourth quarter. Bank of America Corp DE now owns 217,828 shares of the biopharmaceutical company's stock worth $67,215,000 after acquiring an additional 2,940 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Activity

In other Madrigal Pharmaceuticals news, 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 transaction of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares in the company, valued at $664,324.40. This represents a 89.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert E. Waltermire sold 14,113 shares of Madrigal Pharmaceuticals 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,810 shares of company stock worth $10,610,594. 21.50% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded down $3.89 during midday trading on Thursday, reaching $273.35. 286,407 shares of the stock traded hands, compared to its average volume of 384,357. The company's 50 day moving average is $313.84 and its 200 day moving average is $319.89. Madrigal Pharmaceuticals, Inc. has a one year low of $200.63 and a one year 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 capitalization of $6.07 billion, a PE ratio of -10.90 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating the consensus estimate of ($3.62) by $0.30. The business had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same quarter last year, the business earned ($7.38) EPS. On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on MDGL. B. Riley reissued a "buy" rating and issued a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. UBS Group raised their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Citigroup boosted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $416.33.

About Madrigal Pharmaceuticals

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.