Nan Fung Group Holdings Ltd Buys 1,360 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Nan Fung Group Holdings Ltd raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 13.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,122 shares of the biopharmaceutical company’s stock after buying an additional 1,360 shares during the quarter. Madrigal Pharmaceuticals accounts for about 2.9% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 16th biggest position. Nan Fung Group Holdings Ltd’s holdings in Madrigal Pharmaceuticals were worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Pitcairn Co. grew its holdings in shares of Madrigal Pharmaceuticals by 3.2% during the fourth quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 33 shares during the last quarter. Sanctuary Advisors LLC increased its holdings 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 purchasing an additional 62 shares in the last quarter. Arizona State Retirement System raised its stake in shares of 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. lifted its holdings in shares of Madrigal Pharmaceuticals by 8.0% during the third 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 in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Madrigal Pharmaceuticals by 5.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,881 shares of the biopharmaceutical company’s stock worth $580,000 after buying an additional 104 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $301.66 on Friday. The business’s 50 day moving average price is $328.97 and its 200-day moving average price is $306.52. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The company has a market cap of $6.66 billion, a P/E ratio of -12.03 and a beta of -0.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James M. Daly sold 15,470 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 14,113 shares of the firm’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 sale, the vice president now directly owns 3,728 shares of the company’s stock, valued at $1,272,440.96. This represents a 79.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,492 shares of company stock valued at $11,509,707. Company insiders own 22.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.