FORA Capital LLC Invests $347,000 in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

FORA Capital LLC purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,123 shares of the biopharmaceutical company's stock, valued at approximately $347,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $164,000. KBC Group NV boosted its position in shares of Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock valued at $188,000 after purchasing an additional 258 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $210,000. Finally, Farringdon Capital Ltd. bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $215,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Insiders Place Their Bets

In other news, 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 in the company, valued at approximately $1,272,440.96. The trade was a 79.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals 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 approximately $664,324.40. This trade represents a 89.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,810 shares of company stock worth $10,610,594 in the last three months. 22.80% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Down 4.2%

Madrigal Pharmaceuticals stock traded down $12.50 during mid-day trading on Wednesday, hitting $282.86. The company had a trading volume of 351,034 shares, compared to its average volume of 386,012. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average price is $320.58 and its two-hundred day moving average price is $319.07. Madrigal Pharmaceuticals, Inc. has a 12 month low of $200.63 and a 12 month high of $377.46. The company has a market capitalization of $6.28 billion, a PE ratio of -11.28 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, beating analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million during the quarter, compared to the consensus estimate of $112.79 million. During the same period in the prior year, the company posted ($7.38) EPS. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MDGL. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. UBS Group increased their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. StockNews.com upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Canaccord Genuity Group increased their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, B. Riley restated 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. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.