Proficio Capital Partners LLC Purchases Shares of 17,280 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Braidwell LP bought a new stake in Madrigal Pharmaceuticals during the third quarter worth about $39,010,000. Eagle Asset Management Inc. bought a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $6,875,000. Intech Investment Management LLC purchased a new stake in Madrigal Pharmaceuticals in the third quarter worth approximately $1,280,000. Vestal Point Capital LP bought a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $6,367,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter worth approximately $393,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Up 0.8 %

MDGL traded up $2.64 during trading on Friday, reaching $331.41. The stock had a trading volume of 418,303 shares, compared to its average volume of 440,945. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -13.21 and a beta of -0.38. 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 stock's 50 day moving average is $324.17 and its two-hundred day moving average is $287.02.

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

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $531,020.16. Following the transaction, the chief executive officer now owns 54,303 shares in the company, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert E. Waltermire sold 442 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the sale, the vice president now directly owns 5,058 shares of the company's stock, valued at approximately $1,382,907.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,787 shares of company stock worth $7,351,029 in the last three months. Insiders own 22.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. HC Wainwright lifted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Citigroup lifted their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and increased their price objective for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.75.

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.