Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Purchased by Polar Capital Holdings Plc

Polar Capital Holdings Plc boosted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 37.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,720 shares of the biopharmaceutical company's stock after acquiring an additional 37,245 shares during the period. Polar Capital Holdings Plc owned about 0.63% of Madrigal Pharmaceuticals worth $42,496,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at $1,297,000. Franklin Resources Inc. grew 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 buying an additional 4,704 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $16,615,000. Barclays PLC boosted its holdings in shares of Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock worth $8,549,000 after acquiring an additional 24,783 shares in 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 in the last quarter. Institutional investors own 98.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on MDGL shares. B. Riley reiterated a "buy" rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Canaccord Genuity Group lifted their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Citigroup increased their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, UBS Group upped their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $416.33.

Madrigal Pharmaceuticals Stock Up 1.5%

MDGL traded up $4.28 during trading on Tuesday, hitting $295.00. 55,158 shares of the company's stock traded hands, compared to its average volume of 384,781. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of -11.67 and a beta of -0.91. The company's 50 day simple moving average is $317.25 and its two-hundred day simple moving average is $320.79. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, beating the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to analysts' expectations of $112.79 million. During the same quarter last year, the firm posted ($7.38) earnings per share. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director James M. Daly sold 15,470 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $664,324.40. The trade was a 89.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 1,227 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the transaction, the vice president now owns 3,728 shares of the company's stock, valued at $1,271,508.96. The trade was a 24.76% 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 90 days. 21.50% of the stock is owned by insiders.

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.