Barclays PLC Acquires 12,974 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Barclays PLC raised its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 32.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,253 shares of the biopharmaceutical company's stock after acquiring an additional 12,974 shares during the quarter. Barclays PLC owned approximately 0.24% of Madrigal Pharmaceuticals worth $16,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $1,297,000. Franklin Resources Inc. lifted its position in 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. bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth approximately $16,615,000. Prudential Financial Inc. grew its position in shares of Madrigal Pharmaceuticals by 166.2% in the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock valued at $1,128,000 after purchasing an additional 2,282 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 150,746 shares of the biopharmaceutical company's stock valued at $46,516,000 after purchasing an additional 2,776 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 1,912 shares in the company, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert E. Waltermire sold 14,113 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were 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 directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This represents 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. 22.80% of the stock is owned by insiders.

Madrigal Pharmaceuticals Trading Up 1.8 %

Shares of MDGL stock traded up $5.81 during trading hours on Friday, hitting $325.74. 136,259 shares of the company's stock traded hands, compared to its average volume of 391,491. The stock has a market cap of $7.19 billion, a PE ratio of -12.99 and a beta of -0.69. The stock's 50 day simple moving average is $326.17 and its 200 day simple moving average is $309.19. 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, Inc. has a 12 month low of $189.00 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 (EPS) for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MDGL. B. Riley upgraded Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and boosted their price target for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. JMP Securities reissued a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Citigroup lifted their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $409.00.

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.