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Fmr LLC Sells 5,458 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Madrigal Pharmaceuticals logo with Medical background

FMR LLC reduced its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 783,545 shares of the biopharmaceutical company's stock after selling 5,458 shares during the quarter. FMR LLC owned approximately 3.59% of Madrigal Pharmaceuticals worth $166,284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 98 shares in the last quarter. Signaturefd LLC increased its stake 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 buying an additional 39 shares in the last quarter. Nisa Investment Advisors LLC increased its stake 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 buying an additional 68 shares in the last quarter. Quest Partners LLC increased its stake in shares of Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company's stock valued at $60,000 after buying an additional 209 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company's stock valued at $99,000 after buying an additional 320 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer lowered their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Citigroup lowered their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Evercore ISI lowered their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Two equities research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $347.33.

View Our Latest Research Report on Madrigal Pharmaceuticals

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The trade was a 10.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fred B. Craves sold 3,400 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now owns 14,600 shares of the company's stock, valued at $5,114,380. This trade represents a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,763 shares of company stock valued at $4,247,210. 22.80% of the stock is owned by insiders.

Madrigal Pharmaceuticals Stock Down 0.9 %

Madrigal Pharmaceuticals stock traded down $2.88 during midday trading on Wednesday, reaching $318.48. The stock had a trading volume of 217,708 shares, compared to its average volume of 440,639. The firm's fifty day simple moving average is $268.18 and its 200-day simple moving average is $261.21. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29. The stock has a market capitalization of $6.95 billion, a P/E ratio of -12.70 and a beta of -0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share 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 analyst estimates of $34.60 million. During the same period last year, the firm earned ($5.34) EPS. As a group, analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

Madrigal Pharmaceuticals Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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