ArrowMark Colorado Holdings LLC Purchases 37,715 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

ArrowMark Colorado Holdings LLC raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 199,667 shares of the biopharmaceutical company's stock after purchasing an additional 37,715 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.92% of Madrigal Pharmaceuticals worth $61,611,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in MDGL. Newbridge Financial Services Group Inc. acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $1,297,000. Franklin Resources Inc. increased its position in shares of Madrigal Pharmaceuticals by 340.1% during the fourth quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock worth $1,878,000 after acquiring an additional 4,704 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $16,615,000. Barclays PLC boosted its stake in Madrigal Pharmaceuticals by 159.9% during the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock valued at $8,549,000 after acquiring an additional 24,783 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Madrigal Pharmaceuticals by 166.2% during the 4th quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after buying an additional 2,282 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Robert E. Waltermire sold 14,113 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the sale, the vice president now owns 3,728 shares of the company's stock, valued at $1,272,440.96. This trade represents a 79.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,810 shares of company stock valued at $10,610,594 over the last 90 days. 22.80% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Down 3.7 %

Shares of NASDAQ MDGL traded down $11.25 during trading hours on Tuesday, hitting $295.13. The company had a trading volume of 371,743 shares, compared to its average volume of 388,670. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.08 and a 1-year high of $377.46. The stock has a market capitalization of $6.55 billion, a P/E ratio of -11.77 and a beta of -0.91. The firm's 50 day moving average is $324.66 and its 200-day moving average is $316.01. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The firm 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 posted ($7.38) EPS. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. StockNews.com raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday. JMP Securities reissued a "market outperform" rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. UBS Group boosted their price objective on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research report on Friday. Finally, B. Riley reiterated a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.