ArrowMark Colorado Holdings LLC Has $61.61 Million Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

ArrowMark Colorado Holdings LLC boosted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,667 shares of the biopharmaceutical company’s stock after buying an additional 37,715 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Madrigal Pharmaceuticals were worth $61,611,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $164,000. KBC Group NV grew its position in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 258 shares during the last quarter. Jump Financial LLC bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $210,000. Finally, Farringdon Capital Ltd. acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $215,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDGL. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. B. Riley reiterated a “buy” rating and set a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday. Canaccord Genuity Group increased their price objective on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities reiterated a “market outperform” rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Finally, UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $416.33.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the sale, the director now owns 1,912 shares of the company’s stock, valued at $664,324.40. This represents a 89.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 1,227 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $341.07, for a total transaction of $418,492.89. Following the completion of the transaction, the vice president now directly owns 3,728 shares of the company’s stock, valued at approximately $1,271,508.96. This represents a 24.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,810 shares of company stock worth $10,610,594. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $315.48 on Friday. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm has a market cap of $6.97 billion, a PE ratio of -12.58 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a 12 month low of $200.08 and a 12 month high of $377.46. The company’s 50-day moving average price is $325.65 and its two-hundred day moving average price is $313.96.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, topping analysts’ consensus estimates of ($3.62) by $0.30. The business had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same quarter last year, the company earned ($7.38) earnings per share. On average, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Madrigal Pharmaceuticals 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.