17,280 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,280 shares of the biopharmaceutical company's stock, valued at approximately $5,332,000. Proficio Capital Partners LLC owned approximately 0.08% of Madrigal Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MDGL. Victory Capital Management Inc. raised its position in 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 purchasing an additional 40 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock worth $320,000 after purchasing an additional 31 shares in the last quarter. Quest Partners LLC raised its position in Madrigal Pharmaceuticals by 172.8% in the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company's stock worth $123,000 after purchasing an additional 368 shares in the last quarter. Intech Investment Management LLC acquired a new position in Madrigal Pharmaceuticals in the third quarter worth about $1,280,000. Finally, Charles Schwab Investment Management Inc. raised its position in Madrigal Pharmaceuticals by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 147,970 shares of the biopharmaceutical company's stock worth $31,402,000 after purchasing an additional 9,656 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

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Wall Street Analyst Weigh In

MDGL has been the subject of several recent research reports. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and raised their price objective for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Citigroup raised their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, HC Wainwright raised their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $378.44.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 14,113 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at $1,272,440.96. This trade represents a 79.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the transaction, the chief executive officer now directly owns 54,303 shares in the company, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL traded down $5.64 during mid-day trading on Thursday, hitting $335.13. 163,522 shares of the company traded hands, compared to its average volume of 390,795. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46. 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 has a 50-day moving average of $327.44 and a 200 day moving average of $292.42. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of -13.36 and a beta of -0.40.

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

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.