CIBC Private Wealth Group LLC Cuts Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

CIBC Private Wealth Group LLC decreased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 66.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,050 shares of the biopharmaceutical company's stock after selling 2,050 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Madrigal Pharmaceuticals were worth $350,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MDGL. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $70,000. KBC Group NV lifted its stake in shares of Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after buying an additional 258 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $216,000. D.A. Davidson & CO. purchased a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $221,000. Finally, Atria Investments Inc purchased a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $222,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Activity

In other news, insider Carole Huntsman sold 347 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the transaction, the insider now owns 10,438 shares in the company, valued at approximately $3,499,235.12. This represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Rebecca Taub sold 1,689 shares of the company's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $461,789.49. Following the completion of the sale, the chief marketing officer now owns 457,310 shares of the company's stock, valued at approximately $125,033,127.10. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,900 shares of company stock worth $12,168,079. Corporate insiders own 22.80% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their target price for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup lifted their target price 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. Finally, HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Two analysts have 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $378.44.

Madrigal Pharmaceuticals Stock Down 5.3 %

Shares of MDGL stock traded down $16.61 during trading on Thursday, reaching $297.34. The company's stock had a trading volume of 35,126 shares, compared to its average volume of 389,820. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of -12.01 and a beta of -0.69. The stock's 50-day moving average price is $331.80 and its 200 day moving average price is $302.45. 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 posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. On average, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.