Bryce Point Capital LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Bryce Point Capital LLC acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,169 shares of the biopharmaceutical company’s stock, valued at approximately $536,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS grew its stake in Madrigal Pharmaceuticals by 15.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 3,000 shares of the biopharmaceutical company’s stock worth $908,000 after acquiring an additional 400 shares during the period. TD Asset Management Inc grew its position in shares of Madrigal Pharmaceuticals by 4.5% in the second quarter. TD Asset Management Inc now owns 23,240 shares of the biopharmaceutical company’s stock valued at $7,033,000 after purchasing an additional 1,000 shares during the period. Bayforest Capital Ltd acquired a new position in Madrigal Pharmaceuticals in the second quarter valued at $638,000. Mutual of America Capital Management LLC lifted its position in Madrigal Pharmaceuticals by 9.3% during the second quarter. Mutual of America Capital Management LLC now owns 12,309 shares of the biopharmaceutical company’s stock worth $3,725,000 after buying an additional 1,046 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its stake in Madrigal Pharmaceuticals by 16.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 969 shares of the biopharmaceutical company’s stock worth $297,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $488.26 on Tuesday. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of -37.53, a PEG ratio of 6.80 and a beta of -1.01. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26. Madrigal Pharmaceuticals, Inc. has a 1-year low of $265.00 and a 1-year high of $615.00. The business has a 50-day moving average of $540.02 and a 200-day moving average of $473.16.

Analyst Ratings Changes

MDGL has been the topic of several recent analyst reports. Bank of America upgraded shares of Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $266.00 to $445.00 in a report on Monday, November 3rd. UBS Group set a $900.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, January 22nd. B. Riley Financial upped their price objective on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Cantor Fitzgerald upgraded Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $654.73.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 24,800 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $552.18, for a total value of $13,694,064.00. Following the completion of the transaction, the director owned 187,164 shares of the company’s stock, valued at approximately $103,348,217.52. This represents a 11.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William John Sibold sold 2,400 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $575.34, for a total value of $1,380,816.00. Following the sale, the chief executive officer owned 150,074 shares in the company, valued at $86,343,575.16. This represents a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 109,995 shares of company stock worth $58,996,851 over the last three months. Insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-? agonist in Phase 3 development for the treatment of NASH.