Vestal Point Capital LP Raises Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Vestal Point Capital LP increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 216.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,000 shares of the biopharmaceutical company’s stock after purchasing an additional 65,000 shares during the period. Madrigal Pharmaceuticals accounts for 1.7% of Vestal Point Capital LP’s portfolio, making the stock its 25th biggest position. Vestal Point Capital LP’s holdings in Madrigal Pharmaceuticals were worth $29,314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $70,000. BI Asset Management Fondsmaeglerselskab A S purchased 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 acquiring an additional 258 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $203,000. Finally, Jump Financial LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $210,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now owns 1,912 shares of the company’s stock, valued at approximately $664,324.40. This represents a 89.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This represents a 79.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,810 shares of company stock valued at $10,610,594 over the last ninety days. 21.50% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ:MDGL opened at $290.96 on Monday. The company has a market cap of $6.46 billion, a P/E ratio of -11.60 and a beta of -0.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The stock’s fifty day moving average price is $317.98 and its 200-day moving average price is $320.56.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results 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 business had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same period in the previous year, the company earned ($7.38) earnings per share. Sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDGL. 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 note on Friday, May 2nd. UBS Group increased their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Citigroup increased their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. HC Wainwright increased their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $416.33.

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.