1,736 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,736 shares of the biopharmaceutical company's stock, valued at approximately $368,000.

A number of other institutional investors have also recently bought and sold shares of MDGL. Erste Asset Management GmbH acquired a new stake in Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $49,749,000. Paulson & CO. Inc. boosted its stake in Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock valued at $433,353,000 after buying an additional 192,000 shares in the last quarter. Braidwell LP acquired a new stake in Madrigal Pharmaceuticals in the 3rd quarter valued at $39,010,000. State Street Corp boosted its stake 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 buying an additional 143,038 shares in the last quarter. Finally, Fiera Capital Corp bought a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at $32,335,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded down $4.91 during trading hours on Tuesday, reaching $306.08. 458,375 shares of the stock were exchanged, compared to its average volume of 435,530. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of -12.47 and a beta of -0.42. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. 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's fifty day simple moving average is $284.24 and its 200 day simple moving average is $265.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same period in the prior year, the company earned ($5.34) EPS. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Fred B. Craves sold 3,600 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the sale, the director now owns 11,000 shares of the company's stock, valued at $3,468,410. This trade represents a 24.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares in the company, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,000 shares of company stock valued at $3,830,836. 22.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MDGL has been the subject of several research analyst reports. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. UBS Group boosted 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. HC Wainwright reaffirmed a "buy" rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. 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 report on Wednesday, October 23rd. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a report on Saturday, October 12th. 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. According to data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $347.33.

About Madrigal Pharmaceuticals

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.