2,045 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Purchased by Headlands Technologies LLC

Headlands Technologies LLC acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,045 shares of the biopharmaceutical company’s stock, valued at approximately $473,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDGL. Montag A & Associates Inc. boosted its holdings in Madrigal Pharmaceuticals by 223.3% during the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 134 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Madrigal Pharmaceuticals by 454.5% during 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. China Universal Asset Management Co. Ltd. boosted its holdings in Madrigal Pharmaceuticals by 95.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 228 shares during the last quarter. Quantbot Technologies LP bought a new position in Madrigal Pharmaceuticals during the third quarter worth about $72,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 289.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 655 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 487 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several recent analyst reports. TD Cowen lifted their price objective on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, March 15th. UBS Group boosted their target price on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a research note on Friday, March 15th. B. Riley upgraded Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and boosted their target price for the company from $155.00 to $270.00 in a research note on Friday, March 15th. Bank of America began coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an “underperform” rating and a $150.00 target price on the stock. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, April 12th. Two analysts have 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.73.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock traded down $1.05 on Friday, hitting $193.33. 453,346 shares of the company’s stock were exchanged, compared to its average volume of 387,373. 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, Inc. has a 12 month low of $119.76 and a 12 month high of $322.67. The stock has a market cap of $3.85 billion, a P/E ratio of -9.70 and a beta of -0.47. The company has a 50 day moving average of $243.29 and a 200 day moving average of $212.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period last year, the company posted ($4.98) earnings per share. On average, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -21.86 EPS for the current year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director James M. Daly sold 32,489 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 1,198 shares of the company’s stock, valued at $123,118.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Rebecca Taub sold 2,676 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $245.99, for a total value of $658,269.24. Following the completion of the sale, the chief marketing officer now directly owns 458,999 shares of the company’s stock, valued at approximately $112,909,164.01. The disclosure for this sale can be found here. Insiders sold a total of 146,496 shares of company stock valued at $31,362,420 in the last 90 days. Corporate insiders own 23.92% of the company’s stock.

About Madrigal Pharmaceuticals

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.