4,203 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the fourth quarter, Holdings Channel.com reports. The fund purchased 4,203 shares of the biopharmaceutical company’s stock, valued at approximately $1,297,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. raised its position in Madrigal Pharmaceuticals by 10.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,625 shares of the biopharmaceutical company’s stock worth $1,427,000 after acquiring an additional 449 shares in the last quarter. KBC Group NV raised its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 258 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $216,000. Franklin Resources Inc. boosted its holdings in Madrigal Pharmaceuticals by 8.0% during the third quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock worth $298,000 after buying an additional 103 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 12.7% in the third quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock valued at $251,000 after buying an additional 134 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $332.72 on Friday. Madrigal Pharmaceuticals, Inc. has a one year low of $168.25 and a one year high of $368.29. The company’s fifty day moving average price is $314.48 and its two-hundred day moving average price is $277.34. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MDGL shares. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, JMP Securities restated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Two 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $351.67.

Insider Activity

In other news, CEO William John Sibold sold 1,584 shares of the stock in a transaction that occurred 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 approximately $18,204,537.72. This represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 103 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $34,529.72. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,090 shares of company stock valued at $3,883,621. Insiders own 22.80% of the company’s stock.

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.