Cavalier Investments LLC Buys New Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Cavalier Investments LLC purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,641 shares of the biopharmaceutical company's stock, valued at approximately $773,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Horizon Advisors Inc. grew its stake in shares of Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 98 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter valued at approximately $41,000. Signaturefd LLC increased its holdings in Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 39 shares during the last quarter. Quest Partners LLC increased its holdings in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company's stock worth $60,000 after purchasing an additional 209 shares during the last quarter. Finally, BNP Paribas purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at approximately $68,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MDGL shares. Evercore ISI dropped their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Oppenheimer cut their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. HC Wainwright restated a "buy" rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Finally, JMP Securities increased their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $341.75.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 23.92% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL traded up $6.33 during trading hours on Monday, hitting $217.00. The company had a trading volume of 209,198 shares, compared to its average volume of 421,331. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $120.65 and a fifty-two week high of $299.98. The firm has a market cap of $4.62 billion, a P/E ratio of -9.40 and a beta of -0.44. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $228.28 and a 200-day simple moving average of $242.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, topping analysts' consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million during the quarter, compared to analyst estimates of $4.25 million. The firm's revenue was up 146280.0% on a year-over-year basis. During the same period last year, the business earned ($4.69) EPS. Equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.38 EPS for the current year.

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.