Hood River Capital Management LLC Purchases Shares of 127,839 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Hood River Capital Management LLC acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 127,839 shares of the biopharmaceutical company's stock, valued at approximately $39,447,000. Hood River Capital Management LLC owned about 0.59% of Madrigal Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $164,000. KBC Group NV raised its stake in shares of Madrigal Pharmaceuticals by 73.5% in 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 position in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $210,000. Finally, Farringdon Capital Ltd. acquired a new position in Madrigal Pharmaceuticals in the fourth quarter worth about $215,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on MDGL. JMP Securities restated a "market outperform" rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday. HC Wainwright upped their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Citigroup lifted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and increased their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $409.00.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL traded up $0.81 during mid-day trading on Monday, reaching $327.60. 96,785 shares of the company's stock traded hands, compared to its average volume of 386,953. 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 business's 50-day moving average price is $325.91 and its 200-day moving average price is $311.33. The stock has a market capitalization of $7.23 billion, a P/E ratio of -13.01 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a 12 month low of $191.18 and a 12 month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the stock in a transaction 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 completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 14,113 shares of the business's stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Insiders sold 30,810 shares of company stock valued at $10,610,594 over the last 90 days. 22.80% of the stock is currently owned by company insiders.

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.