211,488 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Acquired by AlpInvest Partners B.V.

AlpInvest Partners B.V. acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 211,488 shares of the biopharmaceutical company's stock, valued at approximately $48,934,000. Madrigal Pharmaceuticals makes up 11.2% of AlpInvest Partners B.V.'s portfolio, making the stock its 3rd largest position. AlpInvest Partners B.V. owned about 1.07% of Madrigal Pharmaceuticals at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MDGL. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 1.7% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 4,309 shares of the biopharmaceutical company's stock worth $629,000 after acquiring an additional 74 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 30.1% during the 2nd quarter. Osaic Holdings Inc. now owns 333 shares of the biopharmaceutical company's stock valued at $77,000 after buying an additional 77 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Madrigal Pharmaceuticals by 10.8% in the 1st quarter. Cerity Partners LLC now owns 914 shares of the biopharmaceutical company's stock valued at $221,000 after buying an additional 89 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Madrigal Pharmaceuticals by 454.5% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 100 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Madrigal Pharmaceuticals by 0.9% in the fourth quarter. Legal & General Group Plc now owns 11,775 shares of the biopharmaceutical company's stock worth $3,418,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the transaction, the director now directly owns 10,298 shares of the company's stock, valued at $2,651,529.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the transaction, the director now directly owns 10,298 shares in the company, valued at approximately $2,651,529.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James M. Daly sold 32,489 shares of the business's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $102.77, for a total value of $3,338,894.53. Following the sale, the director now owns 1,198 shares of the company's stock, valued at approximately $123,118.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,496 shares of company stock worth $31,362,420. 23.92% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded down $8.68 during midday trading on Friday, hitting $236.59. 294,909 shares of the company were exchanged, compared to its average volume of 548,647. The firm has a 50 day simple moving average of $241.72 and a 200-day simple moving average of $207.65. Madrigal Pharmaceuticals, Inc. has a 52 week low of $119.76 and a 52 week high of $322.67. The firm has a market cap of $4.71 billion, a P/E ratio of -11.87 and a beta of -0.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($5.26) by ($0.42). During the same period last year, the business posted ($4.98) EPS. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TD Cowen upped their price target on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, March 15th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $155.00 to $270.00 in a research note on Friday, March 15th. Piper Sandler reiterated an "overweight" rating and issued a $336.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Oppenheimer boosted their target price on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an "outperform" rating in a research report on Friday, March 15th. Finally, Citigroup raised their price target on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a "buy" rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $377.40.

Madrigal Pharmaceuticals 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.