Emerald Advisers LLC Has $5.79 Million Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Emerald Advisers LLC lessened its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 71.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,265 shares of the biopharmaceutical company's stock after selling 69,499 shares during the period. Emerald Advisers LLC owned 0.13% of Madrigal Pharmaceuticals worth $5,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avoro Capital Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company's stock valued at $575,884,000 after buying an additional 111,111 shares during the period. Paulson & CO. Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 4.2% during the second quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company's stock valued at $518,296,000 after buying an additional 75,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company's stock valued at $445,638,000 after buying an additional 94,064 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Madrigal Pharmaceuticals by 106.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company's stock valued at $214,491,000 after buying an additional 414,484 shares during the period. Finally, Fiera Capital Corp purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at approximately $32,335,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL traded up $11.74 during trading on Monday, reaching $331.32. The stock had a trading volume of 1,041,406 shares, compared to its average volume of 439,510. Madrigal Pharmaceuticals, Inc. has a 52 week low of $133.99 and a 52 week high of $337.44. The stock has a fifty day simple moving average of $227.40 and a two-hundred day simple moving average of $242.80. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of -12.74 and a beta of -0.46. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14.

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 analysts' consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) EPS. As a group, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MDGL. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th. Citigroup dropped their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. JMP Securities raised their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 16th. HC Wainwright reaffirmed a "buy" rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Finally, Evercore ISI decreased their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $344.33.

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.