Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 43.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,288 shares of the biopharmaceutical company’s stock after purchasing an additional 31,205 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.47% of Madrigal Pharmaceuticals worth $31,872,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDGL. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $70,000. Quest Partners LLC increased its position in Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after purchasing an additional 368 shares in the last quarter. KBC Group NV increased its position in Madrigal Pharmaceuticals by 73.5% during 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 4th quarter worth approximately $216,000. Finally, D.A. Davidson & CO. acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $221,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Buying and Selling

In related news, CMO Rebecca Taub sold 1,689 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 transaction of $461,789.49. Following the transaction, the chief marketing officer now directly owns 457,310 shares in the company, valued at $125,033,127.10. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 transaction, the chief executive officer now owns 54,303 shares in the company, 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. Insiders have sold 35,900 shares of company stock worth $12,168,079 over the last ninety days. 22.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on MDGL shares. Citigroup increased their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. HC Wainwright increased their price objective on shares of 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 reaffirmed a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $375.75.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $327.31 on Thursday. The stock has a market cap of $7.23 billion, a P/E ratio of -13.05 and a beta of -0.41. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $325.79 and a 200-day moving average of $289.37. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal 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.