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

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

Other hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $70,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $164,000. KBC Group NV lifted its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the 4th 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 period. Graham Capital Management L.P. acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $203,000. Finally, Jump Financial LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $210,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on MDGL. JMP Securities reissued a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. B. Riley reaffirmed a "buy" rating and set a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. StockNews.com raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Finally, Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report 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. According to MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $416.33.

Insider Activity

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,227 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $341.07, for a total transaction of $418,492.89. Following the completion of the sale, the vice president now owns 3,728 shares of the company's stock, valued at approximately $1,271,508.96. The trade was a 24.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the business's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 30,810 shares of company stock valued at $10,610,594 over the last quarter. Company insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded down $0.86 during trading on Friday, reaching $290.96. The company had a trading volume of 293,334 shares, compared to its average volume of 386,348. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.63 and a twelve month high of $377.46. The stock has a market capitalization of $6.46 billion, a PE ratio of -11.60 and a beta of -0.91. The stock has a 50-day moving average price of $317.98 and a two-hundred day moving average price of $320.56. 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 quarterly 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 company had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. During the same period last year, the firm earned ($7.38) earnings per share. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share 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.