Bryce Point Capital LLC Invests $536,000 in Madrigal Pharmaceuticals, Inc. $MDGL

Bryce Point Capital LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, HoldingsChannel reports. The firm bought 1,169 shares of the biopharmaceutical company’s stock, valued at approximately $536,000.

A number of other hedge funds have also bought and sold shares of the company. AlphaQuest LLC increased its holdings in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 66 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $33,000. Global Retirement Partners LLC raised its position in shares of Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 51 shares in the last quarter. First Horizon Corp bought a new position in Madrigal Pharmaceuticals during the third quarter worth $34,000. Finally, GAMMA Investing LLC boosted its holdings in Madrigal Pharmaceuticals by 114.3% in the third quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 48 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDGL has been the topic of a number of recent research reports. HC Wainwright raised their price target on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Piper Sandler lifted their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Zacks Research lowered Madrigal Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Citigroup reissued an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 20th. Finally, Wolfe Research set a $579.00 price objective on Madrigal Pharmaceuticals in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $654.73.

Madrigal Pharmaceuticals Stock Up 2.2%

MDGL opened at $488.26 on Tuesday. The stock’s 50 day moving average price is $540.02 and its 200 day moving average price is $473.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26. The stock has a market cap of $11.09 billion, a P/E ratio of -37.53, a P/E/G ratio of 6.80 and a beta of -1.01. Madrigal Pharmaceuticals, Inc. has a 12 month low of $265.00 and a 12 month high of $615.00.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 647 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $492.42, for a total transaction of $318,595.74. Following the transaction, the director owned 452,704 shares of the company’s stock, valued at approximately $222,920,503.68. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carole Huntsman sold 910 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $493.78, for a total transaction of $449,339.80. Following the sale, the insider owned 9,122 shares in the company, valued at $4,504,261.16. This trade represents a 9.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 109,995 shares of company stock valued at $58,996,851. 21.50% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.