Newbridge Financial Services Group Inc. Takes $1.30 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Newbridge Financial Services Group Inc. bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,203 shares of the biopharmaceutical company's stock, valued at approximately $1,297,000.

Several other hedge funds have also recently added to or reduced their stakes in MDGL. Nisa Investment Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 68 shares during the last quarter. Quest Partners LLC raised its holdings in Madrigal Pharmaceuticals by 172.8% during the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company's stock worth $123,000 after purchasing an additional 368 shares in the last quarter. KBC Group NV lifted its position in shares of 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 buying an additional 258 shares during the last quarter. Truist Financial Corp acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $216,000. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $216,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

MDGL stock traded up $8.38 during midday trading on Wednesday, hitting $340.17. 457,285 shares of the stock were exchanged, compared to its average volume of 438,939. 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 stock has a market cap of $7.42 billion, a price-to-earnings ratio of -13.56 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $368.29. The stock's 50-day moving average price is $315.07 and its 200-day moving average price is $278.00.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of research analyst reports. B. Riley lifted their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. UBS Group lifted their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Cantor Fitzgerald reiterated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Oppenheimer reduced their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Finally, HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $351.67.

Insider Transactions at Madrigal Pharmaceuticals

In other news, insider Carole Huntsman sold 347 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the transaction, the insider now directly owns 10,438 shares of the company's stock, valued at $3,499,235.12. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Fred B. Craves sold 3,600 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total value of $1,135,116.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $3,468,410. This represents a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,090 shares of company stock valued at $3,883,621 in the last 90 days. 22.80% of the stock is currently owned by 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.