Bayesian Capital Management LP Increases Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Bayesian Capital Management LP lifted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 137.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,573 shares of the biopharmaceutical company’s stock after purchasing an additional 2,071 shares during the period. Bayesian Capital Management LP’s holdings in Madrigal Pharmaceuticals were worth $1,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter worth about $70,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter worth approximately $164,000. KBC Group NV lifted its stake in Madrigal Pharmaceuticals by 73.5% during the fourth 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 acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $210,000. Finally, Farringdon Capital Ltd. purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $215,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 2.9 %

Madrigal Pharmaceuticals stock opened at $306.38 on Tuesday. The stock has a 50 day moving average of $324.66 and a two-hundred day moving average of $316.01. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.08 and a twelve month high of $377.46. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -12.22 and a beta of -0.91. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same period in the prior year, the business earned ($7.38) earnings per share. As a group, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 14,113 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the sale, the vice president now directly owns 3,728 shares in the company, valued at $1,272,440.96. The trade was a 79.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Daly sold 15,470 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the transaction, the director now owns 1,912 shares of the company’s stock, valued at $664,324.40. The trade was a 89.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,810 shares of company stock worth $10,610,594. Company insiders own 22.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MDGL. UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group raised their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a “buy” rating in a report on Friday. HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. B. Riley restated 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. Finally, StockNews.com upgraded Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $416.33.

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.