Hennion & Walsh Asset Management Inc. Cuts Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Hennion & Walsh Asset Management Inc. trimmed its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 47.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,904 shares of the biopharmaceutical company's stock after selling 9,013 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Madrigal Pharmaceuticals were worth $3,056,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Miracle Mile Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $216,000. Franklin Resources Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 8.0% in the third quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company's stock worth $298,000 after acquiring an additional 103 shares during the period. Sanctuary Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 12.7% in the third quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company's stock valued at $251,000 after buying an additional 134 shares during the period. Geode Capital Management LLC lifted its stake in Madrigal Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company's stock valued at $86,104,000 after buying an additional 5,801 shares during the period. Finally, Barclays PLC lifted its stake in Madrigal Pharmaceuticals by 159.9% in the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock valued at $8,549,000 after buying an additional 24,783 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Up 7.6 %

Madrigal Pharmaceuticals stock traded up $20.85 during trading on Friday, hitting $293.64. 864,268 shares of the company were exchanged, compared to its average volume of 489,407. The business's 50 day moving average is $315.33 and its 200 day moving average is $272.58. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The company has a market capitalization of $6.40 billion, a P/E ratio of -11.71 and a beta of -0.36. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter last year, the company posted ($5.34) EPS. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now owns 11,012 shares of the company's stock, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred B. Craves sold 3,400 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. This represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,000 shares of company stock worth $3,830,836. 22.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MDGL shares. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. UBS Group boosted their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research note on Friday, November 1st. HC Wainwright boosted their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a "buy" rating in a research note on Tuesday. B. Riley boosted their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $351.67.

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.