Knights of Columbus Asset Advisors LLC Buys 2,116 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Knights of Columbus Asset Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 82.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,695 shares of the biopharmaceutical company's stock after buying an additional 2,116 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Madrigal Pharmaceuticals were worth $1,449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $70,000. Quest Partners LLC boosted its position in shares of Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company's stock valued at $123,000 after purchasing an additional 368 shares in the last quarter. KBC Group NV grew its stake in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after purchasing an additional 258 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $216,000. Finally, D.A. Davidson & CO. acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $221,000. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Stock Up 1.0 %

MDGL traded up $3.45 during midday trading on Thursday, hitting $337.27. 124,777 shares of the company's stock traded hands, compared to its average volume of 385,678. 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 cap of $7.45 billion, a PE ratio of -13.45 and a beta of -0.41. The stock's fifty day simple moving average is $330.95 and its 200-day simple moving average is $295.79. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46.

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Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts' consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MDGL. B. Riley upgraded shares of 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 research report on Thursday, February 27th. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Citigroup upped their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, JMP Securities restated a "market outperform" rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $378.44.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $531,020.16. Following the completion of the sale, the chief executive officer now directly owns 54,303 shares in the company, valued at $18,204,537.72. This represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction dated 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 completion of the transaction, the director now owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $12,168,079 over the last three months. Corporate insiders own 22.80% of the company's stock.

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.