Woodline Partners LP Raises Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Woodline Partners LP increased its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 110.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 309,117 shares of the biopharmaceutical company’s stock after purchasing an additional 162,027 shares during the quarter. Madrigal Pharmaceuticals makes up 0.6% of Woodline Partners LP’s holdings, making the stock its 16th largest position. Woodline Partners LP owned 1.42% of Madrigal Pharmaceuticals worth $95,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vestal Point Capital LP raised its stake in Madrigal Pharmaceuticals by 216.7% in the fourth quarter. Vestal Point Capital LP now owns 95,000 shares of the biopharmaceutical company’s stock valued at $29,314,000 after buying an additional 65,000 shares during the last quarter. Soleus Capital Management L.P. purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at about $3,363,000. Tema Etfs LLC purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $1,117,000. Snowden Capital Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 23.8% in the fourth quarter. Snowden Capital Advisors LLC now owns 1,905 shares of the biopharmaceutical company’s stock worth $588,000 after purchasing an additional 366 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its stake in shares of Madrigal Pharmaceuticals by 37.1% in the fourth quarter. Polar Capital Holdings Plc now owns 137,720 shares of the biopharmaceutical company’s stock worth $42,496,000 after purchasing an additional 37,245 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Down 0.1%

Shares of MDGL opened at $290.72 on Tuesday. 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, Inc. has a 12 month low of $200.63 and a 12 month high of $377.46. The stock’s 50 day moving average is $317.25 and its two-hundred day moving average is $320.79. The firm has a market cap of $6.45 billion, a P/E ratio of -11.59 and a beta of -0.91.

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

Insider Activity

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the company’s 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 sale, the director now owns 1,912 shares in the company, valued at $664,324.40. This represents a 89.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert E. Waltermire sold 1,227 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $341.07, for a total value of $418,492.89. Following the sale, the vice president now owns 3,728 shares in the company, valued at approximately $1,271,508.96. This trade represents a 24.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,810 shares of company stock valued at $10,610,594 in the last quarter. Insiders own 21.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MDGL shares. HC Wainwright raised their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. B. Riley restated a “buy” rating and issued a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Citigroup raised their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. JMP Securities restated a “market outperform” rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, 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 research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $416.33.

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.