Intech Investment Management LLC Takes $1.28 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Intech Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,032 shares of the biopharmaceutical company's stock, valued at approximately $1,280,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Avoro Capital Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company's stock valued at $575,884,000 after purchasing an additional 111,111 shares during the period. Paulson & CO. Inc. lifted its position in Madrigal Pharmaceuticals by 4.2% in the 2nd quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company's stock worth $518,296,000 after buying an additional 75,000 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at $32,335,000. American Century Companies Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 13.7% during the 2nd quarter. American Century Companies Inc. now owns 111,113 shares of the biopharmaceutical company's stock valued at $31,130,000 after acquiring an additional 13,361 shares in the last quarter. Finally, Artal Group S.A. purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $29,510,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MDGL. HC Wainwright reissued a "buy" rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. StockNews.com raised Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Citigroup reduced their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer cut their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $347.33.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,400 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the transaction, the director now owns 14,600 shares of the company's stock, valued at approximately $5,114,380. This represents a 18.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares of the company's stock, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,763 shares of company stock valued at $4,247,210. Corporate insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Trading Down 1.6 %

NASDAQ:MDGL traded down $5.29 during mid-day trading on Wednesday, hitting $331.45. The company's stock had a trading volume of 269,295 shares, compared to its average volume of 442,863. 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, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The stock has a fifty day moving average of $256.67 and a 200-day moving average of $256.86.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the company posted ($5.34) earnings per share. On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Madrigal Pharmaceuticals Company 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.