Aigen Investment Management LP Takes $546,000 Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Aigen Investment Management LP bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,771 shares of the biopharmaceutical company's stock, valued at approximately $546,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDGL. Oppenheimer Asset Management Inc. lifted its holdings in Madrigal Pharmaceuticals by 2.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock worth $320,000 after buying an additional 31 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Madrigal Pharmaceuticals by 1.8% during the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company's stock worth $486,000 after purchasing an additional 40 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Madrigal Pharmaceuticals by 5.2% during the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company's stock worth $422,000 after buying an additional 62 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 68 shares during the last quarter. Finally, Verity Asset Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 7.4% in the 3rd quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company's stock valued at $311,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

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Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of recent research reports. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Citigroup increased their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. 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. HC Wainwright lifted their price objective 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 shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and upped their price objective for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $375.75.

Madrigal Pharmaceuticals Trading Down 0.7 %

Shares of MDGL traded down $2.25 during trading hours on Monday, hitting $329.16. The stock had a trading volume of 279,845 shares, compared to its average volume of 437,390. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46. The firm has a market cap of $7.27 billion, a P/E ratio of -13.12 and a beta of -0.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company's fifty day simple moving average is $324.53 and its 200 day simple moving average is $287.96.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity

In related news, VP Robert E. Waltermire sold 442 shares of Madrigal Pharmaceuticals stock in a transaction on 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. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Shannon T. Kelley sold 277 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $75,734.57. Following the completion of the sale, the general counsel now directly owns 7,705 shares of the company's stock, valued at $2,106,624.05. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 over the last ninety days. Corporate 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.