Los Angeles Capital Management LLC Acquires New Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Los Angeles Capital Management LLC purchased a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,752 shares of the biopharmaceutical company's stock, valued at approximately $849,000.

A number of other large investors have also modified their holdings of the stock. Braidwell LP purchased a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $39,010,000. Eagle Asset Management Inc. purchased a new position in Madrigal Pharmaceuticals in the third quarter valued at $6,875,000. Intech Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at $1,280,000. Vestal Point Capital LP purchased a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth about $6,367,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $393,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Buying and Selling

In related news, CEO William John Sibold sold 1,584 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the sale, the chief executive officer now directly owns 54,303 shares in the company, valued at $18,204,537.72. The trade was a 2.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now owns 1,912 shares of the company's stock, valued at $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,787 shares of company stock worth $7,351,029 in the last quarter. Company insiders own 22.80% of the company's stock.

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Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL traded down $6.10 on Thursday, reaching $341.19. 116,652 shares of the company were exchanged, compared to its average volume of 435,780. The company has a 50-day moving average of $323.87 and a 200-day moving average of $286.73. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of -13.52 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. Equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Citigroup lifted their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. 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 research note on Thursday, February 27th. B. Riley upgraded Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. Finally, 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. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $375.75.

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.