F M Investments LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

F M Investments LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,259 shares of the biopharmaceutical company’s stock, valued at approximately $697,000.

A number of other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $16,615,000. Martingale Asset Management L P increased its stake in shares of Madrigal Pharmaceuticals by 2.6% during the fourth quarter. Martingale Asset Management L P now owns 5,914 shares of the biopharmaceutical company’s stock valued at $1,825,000 after buying an additional 150 shares during the period. Capula Management Ltd bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at approximately $354,000. Renaissance Technologies LLC lifted its stake in Madrigal Pharmaceuticals by 261.3% in the fourth quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company’s stock worth $49,613,000 after acquiring an additional 116,285 shares during the period. Finally, Invesco Ltd. boosted its holdings in Madrigal Pharmaceuticals by 7.3% in the fourth quarter. Invesco Ltd. now owns 129,074 shares of the biopharmaceutical company’s stock valued at $39,828,000 after acquiring an additional 8,828 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $317.15 on Friday. 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 50 day moving average price of $331.33 and a 200-day moving average price of $303.74. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -12.65 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted 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 company had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity

In other news, CMO Rebecca Taub sold 1,689 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $461,789.49. Following the sale, the chief marketing officer now owns 457,310 shares in the company, valued at $125,033,127.10. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert E. Waltermire sold 103 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $34,529.72. Following the completion of the transaction, the vice president now owns 4,955 shares of the company’s stock, valued at approximately $1,661,114.20. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 over the last three months. 22.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.