Artisan Partners Limited Partnership Sells 99,377 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Artisan Partners Limited Partnership decreased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,469 shares of the biopharmaceutical company's stock after selling 99,377 shares during the period. Artisan Partners Limited Partnership owned approximately 0.95% of Madrigal Pharmaceuticals worth $64,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Paulson & CO. Inc. boosted its holdings in Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock worth $433,353,000 after buying an additional 192,000 shares in the last quarter. RTW Investments LP boosted its stake in shares of Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock worth $423,100,000 after acquiring an additional 77,825 shares in the last quarter. State Street Corp grew its holdings in shares of Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock worth $188,399,000 after acquiring an additional 143,038 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Madrigal Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company's stock worth $86,104,000 after acquiring an additional 5,801 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $114,717,000. Institutional investors and hedge funds own 98.50% of the company's stock.

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Madrigal Pharmaceuticals Stock Down 2.2 %

Shares of NASDAQ:MDGL traded down $7.25 during trading on Tuesday, reaching $323.98. 331,086 shares of the company traded hands, compared to its average volume of 390,776. The firm has a market cap of $7.15 billion, a P/E ratio of -12.92 and a beta of -0.41. The firm has a fifty day simple moving average of $334.02 and a 200 day simple moving average of $298.83. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts' consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MDGL shares. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. JMP Securities reissued a "market outperform" rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and boosted their price target for the company from $236.00 to $422.00 in a report on Thursday, February 27th. Finally, Citigroup raised their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $378.44.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 24th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James M. Daly sold 15,470 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $12,168,079 over the last three months. Corporate insiders own 22.80% of the company's stock.

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.