Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Position Increased by Prudential Financial Inc.

Prudential Financial Inc. lifted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 166.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,655 shares of the biopharmaceutical company's stock after purchasing an additional 2,282 shares during the period. Prudential Financial Inc.'s holdings in Madrigal Pharmaceuticals were worth $1,128,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MDGL. Kohmann Bosshard Financial Services LLC bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at $70,000. KBC Group NV boosted its holdings in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock valued at $188,000 after buying an additional 258 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $216,000. D.A. Davidson & CO. acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $221,000. Finally, Atria Investments Inc bought a new position in Madrigal Pharmaceuticals in the fourth quarter worth about $222,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carole Huntsman sold 347 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $116,328.28. Following the transaction, the insider now owns 10,438 shares in the company, valued at approximately $3,499,235.12. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 over the last three months. Corporate insiders own 22.80% of the company's stock.

Remove Ads

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL traded up $9.80 during trading hours on Friday, reaching $317.15. 390,555 shares of the company's stock traded hands, compared to its average volume of 392,456. Madrigal Pharmaceuticals, Inc. has a twelve month low of $189.00 and a twelve month high of $377.46. The business's fifty day simple moving average is $331.33 and its two-hundred day simple moving average is $303.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -12.65 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its 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 analyst estimates of $97.81 million. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Madrigal Pharmaceuticals Company 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.