Graham Capital Management L.P. Acquires Shares of 659 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Graham Capital Management L.P. acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 659 shares of the biopharmaceutical company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $164,000. KBC Group NV lifted its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 258 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $210,000. Finally, Farringdon Capital Ltd. bought a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $215,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $290.96 on Monday. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.63 and a twelve month high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $317.98 and a two-hundred day simple moving average of $320.56. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of -11.60 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.62) by $0.30. The business had revenue of $137.25 million during the quarter, compared to analysts’ expectations of $112.79 million. During the same period last year, the company earned ($7.38) earnings per share. On average, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MDGL has been the subject of several analyst reports. B. Riley reissued a “buy” rating and issued a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. StockNews.com raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. Citigroup upped their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $416.33.

Insider Activity

In related news, VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $341.07, for a total transaction of $418,492.89. Following the transaction, the vice president now directly owns 3,728 shares of the company’s stock, valued at $1,271,508.96. This trade represents a 24.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James M. Daly sold 15,470 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now directly owns 1,912 shares of the company’s stock, valued at $664,324.40. This trade represents a 89.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,810 shares of company stock worth $10,610,594. 21.50% of the stock is currently owned by corporate insiders.

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.