Hood River Capital Management LLC Makes New $39.45 Million Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Hood River Capital Management LLC bought a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 127,839 shares of the biopharmaceutical company's stock, valued at approximately $39,447,000. Hood River Capital Management LLC owned about 0.59% of Madrigal Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of MDGL. Kohmann Bosshard Financial Services LLC bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $70,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $164,000. KBC Group NV grew its stake in shares of Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after purchasing an additional 258 shares during the last quarter. Jump Financial LLC purchased a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $210,000. Finally, Farringdon Capital Ltd. bought a new position in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $215,000. Institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $302.72 on Wednesday. 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 has a 50 day simple moving average of $327.09 and a two-hundred day simple moving average of $308.46. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of -12.07 and a beta of -0.69.

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 company had revenue of $103.32 million during the quarter, compared to analysts' expectations of $97.81 million. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and raised their target price for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. HC Wainwright boosted their price target 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, JMP Securities restated a "market outperform" rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, one has given 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 has a consensus rating of "Moderate Buy" and a consensus target price of $407.00.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 103 shares of the company's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $34,529.72. Following the transaction, the vice president now directly owns 4,955 shares of the company's stock, valued at $1,661,114.20. This represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction dated 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 completion of the sale, the director now owns 1,912 shares of the company's stock, valued at $664,324.40. The trade was a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,492 shares of company stock worth $11,509,707. 22.80% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding MDGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.