Ensign Peak Advisors Inc Purchases 19,627 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Ensign Peak Advisors Inc raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 124.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,361 shares of the biopharmaceutical company's stock after purchasing an additional 19,627 shares during the period. Ensign Peak Advisors Inc owned about 0.16% of Madrigal Pharmaceuticals worth $10,911,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. HC Wainwright raised their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Citigroup raised their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. 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, April 24th. Finally, B. Riley restated a "buy" rating and set a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Two equities research 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $416.33.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were 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 in the company, valued at $664,324.40. This represents a 89.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert E. Waltermire sold 14,113 shares of the company's stock in a transaction dated 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 approximately $1,272,440.96. The trade was a 79.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,810 shares of company stock worth $10,610,594 over the last ninety days. Company insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

MDGL stock traded down $0.86 during mid-day trading on Friday, reaching $290.96. The company had a trading volume of 293,334 shares, compared to its average volume of 385,148. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $6.46 billion, a P/E ratio of -11.60 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a one year low of $200.63 and a one year high of $377.46. The stock's 50-day simple moving average is $318.87 and its two-hundred day simple moving average is $319.33.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same quarter in the prior year, the firm earned ($7.38) earnings per share. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS 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.