FORA Capital LLC Buys New Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

FORA Capital LLC purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to its most recent 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 added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $70,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $164,000. KBC Group NV boosted its position in shares of Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after buying an additional 258 shares during the period. Jump Financial LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $210,000. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $215,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director James M. Daly sold 15,470 shares of the business'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 sale, the director now owns 1,912 shares of the company's stock, valued at approximately $664,324.40. The trade was a 89.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert E. Waltermire sold 1,227 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the sale, the vice president now directly owns 3,728 shares of the company's stock, valued at approximately $1,271,508.96. The trade was a 24.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,810 shares of company stock valued at $10,610,594 in the last three months. Corporate insiders own 22.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. HC Wainwright upped their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Canaccord Genuity Group increased their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a report on Friday, May 2nd. B. Riley reissued a "buy" rating and issued a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $416.33.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded down $1.34 during mid-day trading on Friday, reaching $290.49. The company had a trading volume of 118,628 shares, compared to its average volume of 384,470. 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 has a market cap of $6.45 billion, a PE ratio of -11.58 and a beta of -0.91. The company has a 50-day moving average price of $318.87 and a two-hundred day moving average price of $319.33. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46.

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

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.