F M Investments LLC Buys Shares of 2,259 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

F M Investments LLC acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,259 shares of the biopharmaceutical company's stock, valued at approximately $697,000.

Other institutional investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $70,000. KBC Group NV boosted its stake in Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock valued at $188,000 after acquiring an additional 258 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the fourth quarter worth $216,000. D.A. Davidson & CO. acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth $221,000. Finally, Atria Investments Inc purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $222,000. Institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL traded down $13.32 on Wednesday, hitting $307.78. The company had a trading volume of 603,747 shares, compared to its average volume of 392,646. 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 market capitalization of $6.80 billion, a PE ratio of -12.27 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46. The company's fifty day moving average price is $330.79 and its 200-day moving average price is $305.24.

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Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts' consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to analysts' expectations of $97.81 million. As a group, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MDGL. Citigroup increased their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. HC Wainwright boosted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, B. Riley upgraded Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $378.44.

Insider Activity

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the completion of the sale, the vice president now owns 5,058 shares in the company, valued at approximately $1,382,907.78. This represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $5,375,051.50. Following the transaction, the director now 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 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. Insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals 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.