Rheos Capital Works Inc. Cuts Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Rheos Capital Works Inc. cut its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 43.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,215 shares of the biopharmaceutical company's stock after selling 43,000 shares during the quarter. Rheos Capital Works Inc. owned approximately 0.26% of Madrigal Pharmaceuticals worth $17,346,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MDGL. Oppenheimer Asset Management Inc. lifted its stake 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 during the period. Victory Capital Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 1.8% in the third 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 during the period. Nisa Investment Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 47.6% during 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. Creative Planning grew its position in shares of Madrigal Pharmaceuticals by 2.7% during the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock valued at $700,000 after acquiring an additional 87 shares during the period. Finally, Verity Asset Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 7.4% in the 3rd 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. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Activity

In related news, Director Fred B. Craves sold 3,400 shares of the stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert E. Waltermire sold 103 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $34,529.72. Following the sale, the vice president now directly owns 4,955 shares of the company's stock, valued at approximately $1,661,114.20. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,090 shares of company stock valued at $3,883,621. 22.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on MDGL shares. UBS Group increased their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Oppenheimer reduced their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, JMP Securities restated a "market outperform" rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $351.67.

Madrigal Pharmaceuticals Trading Down 2.9 %

NASDAQ MDGL traded down $9.70 on Thursday, reaching $330.27. 349,538 shares of the company were exchanged, compared to its average volume of 459,410. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The business's fifty day moving average price is $314.42 and its 200 day moving average price is $276.65. The stock has a market capitalization of $7.20 billion, a P/E ratio of -13.17 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29.

Madrigal Pharmaceuticals 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.