9,031 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Acquired by Wellington Management Group LLP

Wellington Management Group LLP purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,031 shares of the biopharmaceutical company's stock, valued at approximately $1,917,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDGL. Avoro Capital Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company's stock worth $575,884,000 after purchasing an additional 111,111 shares in the last quarter. Paulson & CO. Inc. lifted its stake in Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock worth $433,353,000 after acquiring an additional 192,000 shares in the last quarter. RTW Investments LP boosted its holdings in Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock valued at $423,100,000 after acquiring an additional 77,825 shares during the period. State Street Corp grew its position in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock valued at $188,399,000 after acquiring an additional 143,038 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Madrigal Pharmaceuticals during the third quarter worth about $49,749,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDGL has been the topic of a number of research reports. Cantor Fitzgerald reiterated a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Oppenheimer lowered their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a report on Friday, November 1st. HC Wainwright restated a "buy" rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Finally, StockNews.com raised Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $347.33.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL traded up $0.65 during trading on Thursday, hitting $293.41. 389,256 shares of the stock were exchanged, compared to its average volume of 435,391. The company has a market cap of $6.40 billion, a PE ratio of -11.70 and a beta of -0.42. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $287.66 and a two-hundred day moving average price of $266.64. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29.

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 firm had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period last year, the company posted ($5.34) EPS. On average, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Fred B. Craves sold 3,400 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the sale, the director now owns 14,600 shares of the company's stock, valued at $5,114,380. This trade represents a 18.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard S. Levy sold 5,000 shares of the business'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 completion of the transaction, the director now directly owns 11,012 shares of the company's stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,000 shares of company stock valued at $3,830,836. 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.