Cinctive Capital Management LP Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Cinctive Capital Management LP acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,074 shares of the biopharmaceutical company's stock, valued at approximately $1,077,000.

A number of other large investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 2.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock valued at $320,000 after purchasing an additional 31 shares in the last quarter. Signaturefd LLC raised its position in shares of Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock worth $41,000 after acquiring an additional 39 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company's stock worth $486,000 after acquiring an additional 40 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 68 shares in the last quarter. Finally, Creative Planning increased its position in Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock valued at $700,000 after buying an additional 87 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,400 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the sale, the director now owns 14,600 shares in the company, valued at $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William John Sibold sold 6,363 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 55,887 shares of the company's stock, valued at $13,626,927.21. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,763 shares of company stock worth $4,247,210. 22.80% of the stock is owned by insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded down $2.88 during trading on Wednesday, hitting $318.48. 217,708 shares of the company's stock were exchanged, compared to its average volume of 440,639. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -12.70 and a beta of -0.42. 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 business has a 50-day simple moving average of $268.18 and a 200-day simple moving average of $261.21. Madrigal Pharmaceuticals, Inc. has a 52-week low of $168.25 and a 52-week high of $368.29.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analysts' expectations of $34.60 million. During the same period last year, the firm posted ($5.34) earnings per share. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Evercore ISI lowered their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $347.33.

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.