Advantage Alpha Capital Partners LP Makes New $349,000 Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Advantage Alpha Capital Partners LP acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,643 shares of the biopharmaceutical company's stock, valued at approximately $349,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Asset Management Inc. bought a new position in Madrigal Pharmaceuticals during the 3rd quarter worth $6,875,000. Castleark Management LLC acquired a new position in Madrigal Pharmaceuticals in the first quarter valued at about $2,459,000. Sofinnova Investments Inc. raised its stake in Madrigal Pharmaceuticals by 133.4% in the second quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company's stock valued at $12,444,000 after purchasing an additional 25,388 shares in the last quarter. Fiera Capital Corp bought a new stake in Madrigal Pharmaceuticals during the second quarter worth about $32,335,000. Finally, Intech Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals during the third quarter worth about $1,280,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard S. Levy sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the sale, the director now owns 11,012 shares in the company, valued at $3,313,951.28. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,763 shares of company stock valued at $4,247,210. Insiders own 22.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MDGL shares. Citigroup lowered their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating for the company in a 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. UBS Group raised their target price 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. Oppenheimer dropped their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $347.33.

Madrigal Pharmaceuticals Stock Down 1.6 %

Madrigal Pharmaceuticals stock traded down $5.29 during trading on Wednesday, hitting $331.45. 269,299 shares of the company were exchanged, compared to its average volume of 443,167. 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 business's 50 day moving average is $258.63 and its 200 day moving average is $257.38. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The company has a market capitalization of $7.23 billion, a P/E ratio of -13.22 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to analysts' expectations of $34.60 million. During the same quarter last year, the firm posted ($5.34) earnings per share. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share 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.