Vestal Point Capital LP Buys New Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Vestal Point Capital LP purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 30,000 shares of the biopharmaceutical company's stock, valued at approximately $6,367,000. Vestal Point Capital LP owned about 0.14% of Madrigal Pharmaceuticals at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 2.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock valued at $320,000 after purchasing an additional 31 shares during the last quarter. Signaturefd LLC lifted its stake in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock valued at $41,000 after buying an additional 39 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company's stock worth $486,000 after buying an additional 40 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 68 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock valued at $700,000 after acquiring an additional 87 shares during the period. Institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL traded down $3.26 during mid-day trading on Friday, hitting $328.19. 189,363 shares of the company's stock were exchanged, compared to its average volume of 442,068. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29. The firm has a fifty day moving average of $260.42 and a two-hundred day moving average of $257.90.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter last year, the business earned ($5.34) earnings per share. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Wall Street Analyst Weigh In

MDGL has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright reiterated a "buy" rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Evercore ISI reduced their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. UBS Group lifted their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, B. Riley upped their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $347.33.

Insider Activity at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard S. Levy sold 5,000 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now owns 11,012 shares of the company's stock, valued at $3,313,951.28. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,763 shares of company stock valued at $4,247,210. 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.