Headlands Technologies LLC Invests $473,000 in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Headlands Technologies LLC purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,045 shares of the biopharmaceutical company’s stock, valued at approximately $473,000.

A number of other large investors have also made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $648,000. Exchange Traded Concepts LLC increased its position in shares of Madrigal Pharmaceuticals by 289.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 655 shares of the biopharmaceutical company’s stock valued at $96,000 after acquiring an additional 487 shares during the period. Raymond James & Associates increased its position in shares of Madrigal Pharmaceuticals by 34.9% in the 3rd quarter. Raymond James & Associates now owns 20,451 shares of the biopharmaceutical company’s stock valued at $2,987,000 after acquiring an additional 5,295 shares during the period. Bank of New York Mellon Corp increased its position in shares of Madrigal Pharmaceuticals by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,786 shares of the biopharmaceutical company’s stock valued at $8,585,000 after acquiring an additional 2,288 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Madrigal Pharmaceuticals by 16.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,039 shares of the biopharmaceutical company’s stock valued at $298,000 after acquiring an additional 284 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock traded down $1.05 during mid-day trading on Friday, hitting $193.33. 453,346 shares of the stock were exchanged, compared to its average volume of 387,373. Madrigal Pharmaceuticals, Inc. has a 52-week low of $119.76 and a 52-week high of $322.67. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average of $243.29 and a 200 day moving average of $212.18. The company has a market cap of $3.85 billion, a PE ratio of -9.70 and a beta of -0.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results 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 in the previous year, the business posted ($4.98) EPS. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -21.86 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of the stock in a transaction dated Monday, April 1st. The shares were 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 in the company, valued at approximately $123,118.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the transaction, the director now owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James M. Daly sold 32,489 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the completion of the transaction, the director now directly owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,496 shares of company stock worth $31,362,420. Insiders own 23.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MDGL shares. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, April 12th. B. Riley raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price target for the company from $155.00 to $270.00 in a report on Friday, March 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $336.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. UBS Group upped their price target on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Bank of America began coverage on shares of Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They set an “underperform” rating and a $150.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $356.73.

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.