NEOS Investment Management LLC Sells 1,358 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

NEOS Investment Management LLC cut its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,620 shares of the biopharmaceutical company's stock after selling 1,358 shares during the period. NEOS Investment Management LLC's holdings in Madrigal Pharmaceuticals were worth $1,117,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MDGL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $70,000. KBC Group NV increased its stake in 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 period. Miracle Mile Advisors LLC bought a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $216,000. D.A. Davidson & CO. purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at approximately $221,000. Finally, Atria Investments Inc bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $222,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Up 2.9 %

Shares of NASDAQ:MDGL traded up $9.43 during trading on Wednesday, hitting $333.41. The stock had a trading volume of 163,254 shares, compared to its average volume of 389,929. The company has a market capitalization of $7.36 billion, a PE ratio of -13.29 and a beta of -0.41. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average is $334.02 and its 200 day moving average is $298.83. Madrigal Pharmaceuticals, Inc. has a 12 month low of $189.00 and a 12 month high of $377.46.

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Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on MDGL. JMP Securities reiterated a "market outperform" rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup raised their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, HC Wainwright upped their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $378.44.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 1,689 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the completion of the transaction, the chief marketing officer now owns 457,310 shares in the company, valued at approximately $125,033,127.10. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the sale, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This represents a 79.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock valued at $12,168,079 in the last three months. Company 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.