Landscape Capital Management L.L.C. Takes $1.12 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Landscape Capital Management L.L.C. bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,624 shares of the biopharmaceutical company's stock, valued at approximately $1,118,000.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock valued at $188,399,000 after purchasing an additional 143,038 shares during the last quarter. Geode Capital Management LLC increased its position in Madrigal Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after buying an additional 4,923 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at about $114,717,000. Pictet Asset Management Holding SA boosted its holdings in Madrigal Pharmaceuticals by 38.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 208,484 shares of the biopharmaceutical company's stock worth $64,332,000 after acquiring an additional 57,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Madrigal Pharmaceuticals by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 150,746 shares of the biopharmaceutical company's stock worth $46,516,000 after acquiring an additional 2,776 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

MDGL has been the topic of several recent analyst reports. HC Wainwright upped their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a report on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. JMP Securities reiterated a "market outperform" rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, 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. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $378.44.

Insider Buying and Selling

In related news, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the sale, the vice president now directly owns 3,728 shares of the company's stock, valued at approximately $1,272,440.96. This represents a 79.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Shannon T. Kelley sold 277 shares of the firm's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $75,734.57. Following the sale, the general counsel now owns 7,705 shares in the company, valued at approximately $2,106,624.05. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock valued at $12,168,079 over the last ninety days. Company insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded up $9.80 during trading on Friday, hitting $317.15. 390,555 shares of the company's stock were exchanged, compared to its average volume of 392,456. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of -12.65 and a beta of -0.69. The business has a 50-day simple moving average of $331.33 and a 200-day simple moving average of $303.74. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46. 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 - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $97.81 million. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.