Wellington Management Group LLP Invests $1.92 Million in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Wellington Management Group LLP acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, HoldingsChannel reports. The fund acquired 9,031 shares of the biopharmaceutical company’s stock, valued at approximately $1,917,000.

A number of other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in shares of Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares in the last quarter. Signaturefd LLC raised its position in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares during the last quarter. Quest Partners LLC boosted its position in Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 209 shares during the period. Finally, Centaurus Financial Inc. bought a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at about $163,000. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MDGL. HC Wainwright reissued a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. B. Riley lifted their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $347.33.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the transaction, the director now owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the transaction, the director now owns 14,600 shares of the company’s stock, valued at $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,000 shares of company stock worth $3,830,836. 22.80% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $292.76 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The firm has a 50-day moving average of $287.66 and a 200 day moving average of $266.64. The company has a market cap of $6.39 billion, a P/E ratio of -11.67 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period in the prior year, the company posted ($5.34) EPS. On average, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current 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.