Bryce Point Capital LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Bryce Point Capital LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,903 shares of the biopharmaceutical company's stock, valued at approximately $587,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,970 shares of the biopharmaceutical company's stock worth $31,402,000 after purchasing an additional 9,656 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Madrigal Pharmaceuticals by 97.1% in the third quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company's stock worth $2,073,000 after buying an additional 4,811 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $1,077,000. RTW Investments LP increased its position in shares of Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock valued at $423,100,000 after acquiring an additional 77,825 shares in the last quarter. Finally, State Street Corp raised its holdings in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock worth $188,399,000 after acquiring an additional 143,038 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

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Insider Activity at Madrigal Pharmaceuticals

In related news, 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 value of $75,734.57. Following the completion of the transaction, the general counsel now directly owns 7,705 shares of the company's stock, valued at approximately $2,106,624.05. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 442 shares of the business's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the sale, the vice president now owns 5,058 shares in the company, valued at $1,382,907.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded down $12.71 during mid-day trading on Friday, reaching $314.39. 343,494 shares of the company's stock traded hands, compared to its average volume of 389,006. Madrigal Pharmaceuticals, Inc. has a 12 month low of $189.00 and a 12 month high of $377.46. The firm has a 50 day moving average price of $333.68 and a two-hundred day moving average price of $299.84. The firm has a market capitalization of $6.94 billion, a PE ratio of -12.54 and a beta of -0.68. 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 earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping analysts' consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on MDGL shares. HC Wainwright increased their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and upped their target price 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 issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, Citigroup increased their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $378.44.

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.