Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Bought by Barclays PLC

Barclays PLC raised its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 159.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,279 shares of the biopharmaceutical company's stock after purchasing an additional 24,783 shares during the quarter. Barclays PLC owned 0.18% of Madrigal Pharmaceuticals worth $8,549,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $49,749,000. Paulson & CO. Inc. grew its stake in shares of Madrigal Pharmaceuticals by 10.4% in the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock worth $433,353,000 after acquiring an additional 192,000 shares in the last quarter. Braidwell LP acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at $39,010,000. State Street Corp boosted its holdings in Madrigal Pharmaceuticals by 19.2% in the third 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 period. Finally, Fiera Capital Corp purchased a new position in Madrigal Pharmaceuticals in the second quarter valued at $32,335,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDGL has been the topic of a number of analyst reports. Oppenheimer reduced their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. B. Riley boosted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $347.33.

Insiders Place Their Bets

In other news, Director Richard S. Levy sold 5,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Fred B. Craves sold 3,400 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the sale, the director now owns 14,600 shares of the company's stock, valued at approximately $5,114,380. The trade was a 18.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,000 shares of company stock valued at $3,830,836. Insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

MDGL traded down $13.32 on Wednesday, reaching $292.76. The company had a trading volume of 390,903 shares, compared to its average volume of 435,348. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The stock has a market capitalization of $6.39 billion, a PE ratio of -11.67 and a beta of -0.42. The stock has a 50-day moving average price of $286.02 and a 200-day moving average price of $266.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the company posted ($5.34) earnings per share. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current fiscal 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.