Vestal Point Capital LP Makes New $6.37 Million Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Vestal Point Capital LP acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 30,000 shares of the biopharmaceutical company’s stock, valued at approximately $6,367,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in shares of Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 320 shares in the last quarter. Cetera Advisors LLC acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $281,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at about $252,000. First Horizon Advisors Inc. lifted its position in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 98 shares during the last quarter. Finally, Calamos Advisors LLC boosted its position in Madrigal Pharmaceuticals by 13.8% during the second quarter. Calamos Advisors LLC now owns 4,112 shares of the biopharmaceutical company’s stock worth $1,152,000 after purchasing an additional 499 shares during the period. 98.50% of the stock is owned by institutional investors.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. The trade was a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,763 shares of company stock worth $4,247,210 in the last ninety days. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL opened at $331.45 on Friday. The stock’s 50-day moving average is $260.42 and its 200 day moving average is $257.90. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period last year, the firm posted ($5.34) earnings per share. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

Analyst Ratings Changes

MDGL has been the topic of several recent research reports. Citigroup lowered their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI lowered their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Oppenheimer reduced their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, B. Riley raised their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $347.33.

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.