Fiera Capital Corp Sells 3,535 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Fiera Capital Corp cut its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,880 shares of the biopharmaceutical company's stock after selling 3,535 shares during the period. Fiera Capital Corp owned approximately 0.52% of Madrigal Pharmaceuticals worth $23,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock valued at $41,000 after purchasing an additional 39 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 68 shares in the last quarter. Creative Planning lifted its holdings in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock valued at $700,000 after purchasing an additional 87 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 98 shares in the last quarter. Finally, Verity Asset Management Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 7.4% in the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company's stock valued at $311,000 after purchasing an additional 101 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MDGL has been the topic of several analyst reports. HC Wainwright reiterated a "buy" rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a report on Friday, November 1st. B. Riley upped their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a report on Tuesday. StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a report on Saturday, October 12th. Finally, JMP Securities upped their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a "market outperform" rating in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $347.33.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded down $4.15 on Friday, hitting $350.70. The stock had a trading volume of 454,434 shares, compared to its average volume of 442,911. Madrigal Pharmaceuticals, Inc. has a twelve month low of $133.99 and a twelve month high of $368.29. The business's 50 day moving average is $236.51 and its two-hundred day moving average is $247.03. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of -13.98 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the company posted ($5.34) EPS. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares of the company's stock, valued at $3,313,951.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard S. Levy sold 5,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the transaction, the director now owns 11,012 shares of the company's stock, valued at $3,313,951.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by corporate 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.