Nan Fung Group Holdings Ltd Acquires 1,360 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Nan Fung Group Holdings Ltd lifted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,122 shares of the biopharmaceutical company's stock after purchasing an additional 1,360 shares during the quarter. Madrigal Pharmaceuticals accounts for about 2.9% of Nan Fung Group Holdings Ltd's holdings, making the stock its 16th largest position. Nan Fung Group Holdings Ltd owned about 0.05% of Madrigal Pharmaceuticals worth $3,432,000 as of its most recent filing with the SEC.

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

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded up $6.07 during trading hours on Wednesday, reaching $308.79. 355,847 shares of the stock traded hands, compared to its average volume of 390,937. The company's 50-day simple moving average is $327.09 and its two-hundred day simple moving average is $308.46. The company has a market capitalization of $6.82 billion, a P/E ratio of -12.31 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week 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.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MDGL shares. Citigroup upped their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. HC Wainwright upped their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock 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 price target for the company from $236.00 to $422.00 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 research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. 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

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the sale, the chief executive officer now owns 54,303 shares in the company, valued at approximately $18,204,537.72. The trade was a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now owns 1,912 shares in the company, valued at $664,324.40. This represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,492 shares of company stock worth $11,509,707 in the last 90 days. 22.80% of the stock is owned by company 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.