Syon Capital LLC Makes New $313,000 Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Syon Capital LLC purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,014 shares of the biopharmaceutical company's stock, valued at approximately $313,000.

Several other institutional investors also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $164,000. KBC Group NV grew its stake in shares of Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after purchasing an additional 258 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $210,000. Finally, Farringdon Capital Ltd. bought a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $215,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on MDGL. B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Citigroup upped their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $409.00.

Madrigal Pharmaceuticals Stock Up 2.6 %

Shares of NASDAQ MDGL traded up $8.72 during midday trading on Thursday, hitting $342.63. 362,914 shares of the stock traded hands, compared to its average volume of 387,224. The company has a market cap of $7.57 billion, a PE ratio of -13.72 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a one year low of $200.08 and a one year high of $377.46. The business has a 50 day moving average price of $325.41 and a two-hundred day moving average price of $312.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating the consensus estimate of ($3.66) by $0.34. During the same period in the prior year, the company posted ($7.38) EPS. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Activity

In related news, VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $341.07, for a total transaction of $418,492.89. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction that occurred 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 transaction, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was 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 worth $10,610,594 over the last quarter. 22.80% of the stock is currently owned by corporate 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.