Barclays PLC Raises Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Barclays PLC boosted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 159.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,279 shares of the biopharmaceutical company’s stock after buying an additional 24,783 shares during the quarter. Barclays PLC owned approximately 0.18% of Madrigal Pharmaceuticals worth $8,549,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MDGL. First Horizon Advisors Inc. lifted its position in shares of Madrigal Pharmaceuticals by 1,633.3% in 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. Signaturefd LLC raised its stake in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 39 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares in the last quarter. Quest Partners LLC boosted its stake in shares of 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, Centaurus Financial Inc. purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $163,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 1.6 %

Shares of Madrigal Pharmaceuticals stock opened at $306.08 on Wednesday. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of -12.47 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 $284.24 and a 200 day moving average price of $265.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) 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 quarter in the prior year, the firm earned ($5.34) EPS. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fred B. Craves sold 3,600 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, December 3rd. The shares were 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. The trade was a 24.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was 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 owns 11,012 shares in the company, valued at $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,000 shares of company stock valued at $3,830,836. Corporate insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the topic of several recent analyst reports. B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. UBS Group increased their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Oppenheimer dropped their target price 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 reissued a “buy” rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Two 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $347.33.

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.