Soleus Capital Management L.P. Makes New $3.36 Million Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Soleus Capital Management L.P. bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,900 shares of the biopharmaceutical company’s stock, valued at approximately $3,363,000.

Other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $164,000. KBC Group NV raised its position in shares of 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 acquiring an additional 258 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $203,000. Finally, Jump Financial LLC acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at $210,000. 98.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert E. Waltermire sold 14,113 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the transaction, the vice president now owns 3,728 shares of the company’s stock, valued at $1,272,440.96. This represents a 79.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,810 shares of company stock valued at $10,610,594. Company insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 0.3%

Shares of NASDAQ MDGL opened at $290.96 on Monday. The firm has a 50 day moving average price of $317.98 and a 200 day moving average price of $320.56. 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 has a market cap of $6.46 billion, a P/E ratio of -11.60 and a beta of -0.91. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.62) by $0.30. The firm had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. During the same period last year, the firm earned ($7.38) EPS. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on MDGL shares. StockNews.com upgraded Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. 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 report on Friday, May 2nd. Citigroup increased their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Canaccord Genuity Group raised 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, May 2nd. Finally, UBS Group lifted their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals 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.