Carrera Capital Advisors Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Carrera Capital Advisors bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,243 shares of the biopharmaceutical company's stock, valued at approximately $1,001,000.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 68 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $70,000. Quest Partners LLC raised its stake in shares of 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 buying an additional 368 shares during the period. KBC Group NV raised its stake in shares of 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 buying an additional 258 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $216,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ MDGL traded up $2.64 during mid-day trading on Friday, reaching $331.41. 419,416 shares of the company's stock were exchanged, compared to its average volume of 440,970. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of -13.21 and a beta of -0.38. 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 52-week low of $189.00 and a 52-week high of $377.46. The company's 50-day moving average is $324.53 and its 200-day moving average is $287.54.

Remove Ads

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, topping analysts' consensus estimates 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. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDGL. Citigroup upped their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. B. Riley raised 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 note on Thursday, February 27th. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $375.75.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now owns 1,912 shares of the company's stock, valued at $664,324.40. This trade represents a 89.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Rebecca Taub sold 1,689 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the sale, the chief marketing officer now directly owns 457,310 shares in the company, valued at $125,033,127.10. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 in the last three months. 22.80% of the stock is owned by company insiders.

About Madrigal Pharmaceuticals

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.