Barclays PLC Increases Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Barclays PLC grew its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 32.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,253 shares of the biopharmaceutical company's stock after buying an additional 12,974 shares during the quarter. Barclays PLC owned 0.24% of Madrigal Pharmaceuticals worth $16,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. William Blair Investment Management LLC purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $114,717,000. Renaissance Technologies LLC increased its stake in Madrigal Pharmaceuticals by 261.3% in the 4th quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock worth $49,613,000 after buying an additional 116,285 shares during the period. Norges Bank bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at about $35,514,000. FMR LLC boosted its position in Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after buying an additional 84,305 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Madrigal Pharmaceuticals by 2,981.8% in the 4th quarter. Victory Capital Management Inc. now owns 70,635 shares of the biopharmaceutical company's stock worth $21,796,000 after acquiring an additional 68,343 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MDGL. Citigroup boosted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. B. Riley upgraded Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and upped their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $407.00.

Madrigal Pharmaceuticals Stock Up 2.0 %

Shares of NASDAQ MDGL traded up $6.07 during mid-day trading on Wednesday, reaching $308.79. 355,847 shares of the company were exchanged, compared to its average volume of 390,937. The firm has a 50-day moving average of $327.09 and a 200 day moving average of $308.46. Madrigal Pharmaceuticals, Inc. has a 1 year low of $189.00 and a 1 year high of $377.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -12.31 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate 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. On average, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, insider Carole Huntsman sold 347 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $116,328.28. Following the completion of the sale, the insider now owns 10,438 shares in the company, valued at approximately $3,499,235.12. This represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William John Sibold sold 1,584 shares of the company'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 transaction, the chief executive officer now directly owns 54,303 shares in the company, valued at $18,204,537.72. This represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,492 shares of company stock worth $11,509,707 over the last three months. Corporate insiders own 22.80% of the company's stock.

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.