Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Bought by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,667 shares of the biopharmaceutical company’s stock after buying an additional 37,715 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.92% of Madrigal Pharmaceuticals worth $61,611,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $70,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $164,000. KBC Group NV boosted its holdings in Madrigal Pharmaceuticals by 73.5% during the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 258 shares in the last quarter. Jump Financial LLC acquired a new position in Madrigal Pharmaceuticals in the fourth quarter worth approximately $210,000. Finally, Farringdon Capital Ltd. bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $215,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup lifted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. UBS Group upped their price objective on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a “buy” rating in a research note on Friday. B. Riley reissued a “buy” rating and issued a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday. 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 analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $416.33.

Insider Activity at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James M. Daly sold 15,470 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,810 shares of company stock valued at $10,610,594. 22.80% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Down 3.7 %

MDGL stock opened at $315.48 on Friday. The company has a 50 day moving average of $325.65 and a two-hundred day moving average of $313.96. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.08 and a 12-month high of $377.46. The company has a market cap of $6.97 billion, a price-to-earnings ratio of -12.58 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same period in the previous year, the business posted ($7.38) EPS. On average, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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.