Dorsey & Whitney Trust CO LLC Makes New $257,000 Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Dorsey & Whitney Trust CO LLC acquired a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 834 shares of the biopharmaceutical company's stock, valued at approximately $257,000.

A number of other institutional investors have also made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its position in Madrigal Pharmaceuticals by 2.1% during the third 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 during the last quarter. Victory Capital Management Inc. raised its stake in shares of Madrigal Pharmaceuticals by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company's stock worth $486,000 after purchasing an additional 40 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 5.2% in the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company's stock valued at $422,000 after buying an additional 62 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Madrigal Pharmaceuticals by 2.5% in the fourth 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. Finally, Franklin Resources Inc. increased its holdings in Madrigal Pharmaceuticals by 8.0% during the third 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 last quarter. Institutional investors own 98.50% of the company's stock.

Insider Activity at Madrigal Pharmaceuticals

In other news, insider Carole Huntsman sold 347 shares of the company's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $116,328.28. Following the completion of the sale, the insider now directly owns 10,438 shares in the company, valued at approximately $3,499,235.12. This represents a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the stock in a transaction on 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 directly owns 1,912 shares in the company, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,900 shares of company stock worth $12,168,079. Company insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Trading Up 1.9 %

Shares of Madrigal Pharmaceuticals stock opened at $335.39 on Wednesday. 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 firm has a 50-day moving average of $325.42 and a 200-day moving average of $289.11. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46. The stock has a market cap of $7.41 billion, a PE ratio of -13.37 and a beta of -0.41.

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Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on MDGL shares. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. B. Riley upgraded Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright lifted 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, Citigroup increased their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company 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, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $375.75.

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.

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