Cerity Partners LLC Invests $453,000 in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Cerity Partners LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,467 shares of the biopharmaceutical company's stock, valued at approximately $453,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pitcairn Co. lifted its holdings in Madrigal Pharmaceuticals by 3.2% during the fourth quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company's stock valued at $327,000 after purchasing an additional 33 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 5.2% during the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company's stock valued at $422,000 after purchasing an additional 62 shares during the period. Arizona State Retirement System lifted its stake in shares of Madrigal Pharmaceuticals by 2.5% during the 4th quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company's stock valued at $1,165,000 after buying an additional 91 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Madrigal Pharmaceuticals by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company's stock worth $298,000 after buying an additional 103 shares during the period. Finally, Xponance Inc. increased its stake in Madrigal Pharmaceuticals by 9.8% in the 4th quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company's stock worth $391,000 after buying an additional 113 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Up 2.6 %

NASDAQ MDGL opened at $302.72 on Wednesday. The stock has a 50 day moving average price of $327.09 and a 200-day moving average price of $308.46. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company has a market capitalization of $6.68 billion, a P/E ratio of -12.07 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate 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. As a group, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the sale, the chief executive officer now directly owns 54,303 shares in the company, valued at $18,204,537.72. This represents a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert E. Waltermire sold 14,113 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the sale, the vice president now directly owns 3,728 shares of the company's stock, valued at $1,272,440.96. The trade was a 79.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,492 shares of company stock valued at $11,509,707. Insiders own 22.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MDGL. HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Citigroup boosted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $407.00.

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.

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