Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Bought by Barclays PLC

Barclays PLC lifted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 159.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 40,279 shares of the biopharmaceutical company’s stock after acquiring an additional 24,783 shares during the quarter. Barclays PLC’s holdings in Madrigal Pharmaceuticals were worth $8,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC increased its stake in Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after purchasing an additional 111,111 shares during the last quarter. Paulson & CO. Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after buying an additional 192,000 shares during the period. RTW Investments LP grew its position in shares of Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after buying an additional 77,825 shares during the last quarter. State Street Corp raised its stake in Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after acquiring an additional 143,038 shares during the period. Finally, Erste Asset Management GmbH bought a new position in Madrigal Pharmaceuticals in the third quarter worth about $49,749,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Oppenheimer lowered their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. HC Wainwright reiterated a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, B. Riley lifted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.33.

Madrigal Pharmaceuticals Stock Down 1.6 %

Madrigal Pharmaceuticals stock opened at $306.08 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of -12.47 and a beta of -0.42. The company’s 50-day moving average price is $284.24 and its two-hundred day moving average price is $265.97. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the business earned ($5.34) EPS. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Fred B. Craves sold 3,600 shares of the business’s 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 completion of the sale, the director now owns 11,000 shares in the company, valued at $3,468,410. The trade was a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,000 shares of company stock valued at $3,830,836. 22.80% of the stock is owned by corporate insiders.

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.