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 its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,903 shares of the biopharmaceutical company’s stock, valued at approximately $587,000.

A number of other hedge funds have also recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth approximately $1,036,000. Geode Capital Management LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth $1,297,000. BNP Paribas Financial Markets grew its stake in Madrigal Pharmaceuticals by 97.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company’s stock worth $2,073,000 after buying an additional 4,811 shares during the last quarter. Finally, Barclays PLC increased its position in Madrigal Pharmaceuticals by 159.9% during the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after buying an additional 24,783 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James M. Daly sold 15,470 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the sale, the director now owns 1,912 shares of the company’s stock, valued at $664,324.40. The trade was a 89.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 3,728 shares of the company’s stock, valued at $1,272,440.96. The trade was a 79.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 over the last three months. 22.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Madrigal Pharmaceuticals Stock Up 3.3 %

MDGL stock opened at $334.60 on Thursday. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The firm’s fifty day moving average is $334.22 and its 200 day moving average is $299.08. The firm has a market cap of $7.39 billion, a PE ratio of -13.34 and a beta of -0.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.