Bryce Point Capital LLC Buys Shares of 1,903 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Bryce Point Capital LLC purchased a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,903 shares of the biopharmaceutical company’s stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sanctuary Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 5.2% in the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company’s stock worth $422,000 after buying an additional 62 shares during the last quarter. Arizona State Retirement System boosted its position in Madrigal Pharmaceuticals by 2.5% in the fourth quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company’s stock worth $1,165,000 after purchasing an additional 91 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Madrigal Pharmaceuticals by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock valued at $298,000 after purchasing an additional 103 shares during the period. Xponance Inc. increased its position in shares of Madrigal Pharmaceuticals by 9.8% during the 4th quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company’s stock valued at $391,000 after purchasing an additional 113 shares during the last quarter. Finally, Cavalier Investments LLC lifted its stake in shares of Madrigal Pharmaceuticals by 4.0% in the 4th quarter. Cavalier Investments LLC now owns 3,785 shares of the biopharmaceutical company’s stock worth $1,168,000 after purchasing an additional 144 shares during the period. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Up 3.3 %

Shares of MDGL opened at $334.60 on Thursday. 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 52-week low of $189.00 and a 52-week high of $377.46. The company has a market cap of $7.39 billion, a PE ratio of -13.34 and a beta of -0.68. The business has a fifty day moving average of $334.22 and a 200 day moving average of $299.08.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on MDGL. Citigroup lifted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $378.44.

Insider Activity

In related news, VP Robert E. Waltermire sold 14,113 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the sale, the vice president now owns 3,728 shares in the company, valued at approximately $1,272,440.96. The trade was a 79.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James M. Daly sold 15,470 shares of the firm’s stock in a transaction on 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 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. Over the last 90 days, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is currently owned by insiders.

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.