4,881 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Bought by XTX Topco Ltd

XTX Topco Ltd bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,881 shares of the biopharmaceutical company’s stock, valued at approximately $1,036,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDGL. Erste Asset Management GmbH acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter worth $49,749,000. Paulson & CO. Inc. boosted its stake in Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares during the period. Braidwell LP acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter worth $39,010,000. State Street Corp boosted its stake in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after purchasing an additional 143,038 shares during the period. Finally, Fiera Capital Corp acquired a new position in Madrigal Pharmaceuticals in the 2nd quarter worth $32,335,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Richard S. Levy sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fred B. Craves sold 3,600 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the sale, the director now owns 11,000 shares in the company, valued at $3,468,410. This represents a 24.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,000 shares of company stock worth $3,830,836. Corporate insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL opened at $318.44 on Tuesday. The company’s 50 day moving average price is $274.46 and its two-hundred day moving average price is $263.10. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29. The firm has a market cap of $6.95 billion, a PE ratio of -12.70 and a beta of -0.42. 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 (NASDAQ:MDGL) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the previous year, the company earned ($5.34) EPS. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Analysts Set New Price Targets

MDGL has been the subject of a number of research analyst reports. Oppenheimer reduced their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. UBS Group increased their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. HC Wainwright restated a “buy” rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $347.33.

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.