Price T Rowe Associates Inc. MD Purchases 414,484 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Price T Rowe Associates Inc. MD boosted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 106.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 803,213 shares of the biopharmaceutical company’s stock after acquiring an additional 414,484 shares during the period. Price T Rowe Associates Inc. MD owned 3.77% of Madrigal Pharmaceuticals worth $214,491,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MDGL. Avoro Capital Advisors LLC boosted its holdings in Madrigal Pharmaceuticals by 2.9% during the first quarter. Avoro Capital Advisors LLC now owns 1,944,444 shares of the biopharmaceutical company’s stock worth $519,244,000 after buying an additional 55,556 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Madrigal Pharmaceuticals by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock worth $445,638,000 after buying an additional 94,064 shares during the last quarter. Paulson & CO. Inc. boosted its holdings in Madrigal Pharmaceuticals by 121.1% during the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after buying an additional 605,741 shares during the last quarter. RTW Investments LP boosted its holdings in Madrigal Pharmaceuticals by 163.4% during the fourth quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock worth $188,619,000 after buying an additional 505,706 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $75,110,000. Institutional investors own 98.50% of the company’s stock.

Insider Activity at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 1,036 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the sale, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,272,370. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Fred B. Craves sold 22,489 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the completion of the transaction, the director now owns 413,362 shares of the company’s stock, valued at approximately $87,996,502.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert E. Waltermire sold 1,036 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $231.34, for a total value of $239,668.24. Following the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,272,370. The disclosure for this sale can be found here. Insiders sold 27,425 shares of company stock worth $6,129,127 in the last ninety days. 23.92% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Up 0.4 %

Shares of NASDAQ:MDGL traded up $1.03 during trading on Friday, hitting $284.49. 167,769 shares of the company were exchanged, compared to its average volume of 291,202. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -12.32 and a beta of -0.42. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $299.98. The firm has a fifty day moving average price of $266.22 and a two-hundred day moving average price of $243.96. The company has a current ratio of 9.39, a quick ratio of 9.39 and a debt-to-equity ratio of 0.14.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period in the prior year, the company posted ($4.23) earnings per share. As a group, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MDGL shares. Wolfe Research assumed coverage on Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 target price on the stock. Citigroup dropped their price target on Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. JMP Securities raised their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, July 19th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $348.50.

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.