Polar Capital Holdings Plc Has $42.50 Million Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Polar Capital Holdings Plc lifted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 37.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,720 shares of the biopharmaceutical company’s stock after acquiring an additional 37,245 shares during the quarter. Polar Capital Holdings Plc owned approximately 0.63% of Madrigal Pharmaceuticals worth $42,496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDGL. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $164,000. KBC Group NV boosted its position in Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 258 shares during the period. Graham Capital Management L.P. bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $203,000. Finally, Jump Financial LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $210,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 4.2%

Shares of NASDAQ MDGL opened at $282.86 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company has a 50-day moving average price of $320.58 and a 200-day moving average price of $319.07. The stock has a market capitalization of $6.28 billion, a P/E ratio of -11.28 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same quarter last year, the firm posted ($7.38) EPS. On average, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MDGL shares. HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Citigroup lifted their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. StockNews.com raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $416.33.

Insider Activity at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 1,227 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the sale, the vice president now owns 3,728 shares in the company, valued at $1,271,508.96. This represents a 24.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the firm’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 transaction, the director now directly 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. In the last three months, insiders sold 30,810 shares of company stock valued at $10,610,594. 22.80% of the stock is owned by 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.