Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Bought by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC grew its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 82.0% during the 4th quarter, HoldingsChannel reports. The firm owned 4,695 shares of the biopharmaceutical company’s stock after buying an additional 2,116 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of MDGL. William Blair Investment Management LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter worth approximately $114,717,000. Erste Asset Management GmbH purchased a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $49,749,000. Paulson & CO. Inc. boosted its position in Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares in the last quarter. Braidwell LP purchased a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $39,010,000. Finally, State Street Corp boosted its position in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after purchasing an additional 143,038 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $120,847.22. Following the completion of the sale, the vice president now directly owns 5,058 shares of the company’s stock, valued at $1,382,907.78. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William John Sibold sold 1,584 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the sale, the chief executive officer now directly owns 54,303 shares of the company’s stock, valued at $18,204,537.72. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,900 shares of company stock worth $12,168,079. Corporate insiders own 22.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDGL. JMP Securities restated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their target price for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. Citigroup increased their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, HC Wainwright increased their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.44.

Madrigal Pharmaceuticals Trading Up 1.9 %

Shares of MDGL stock opened at $341.62 on Friday. The stock’s fifty day moving average is $327.53 and its two-hundred day moving average is $293.77. 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 firm has a market capitalization of $7.54 billion, a P/E ratio of -13.62 and a beta of -0.40. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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.