Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,229 shares of the biopharmaceutical company's stock after selling 1,023 shares during the quarter. Sei Investments Co.'s holdings in Madrigal Pharmaceuticals were worth $2,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDGL. Kohmann Bosshard Financial Services LLC purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter worth $70,000. KBC Group NV lifted its stake in shares of Madrigal Pharmaceuticals by 73.5% during 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 last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth $216,000. D.A. Davidson & CO. bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $221,000. Finally, Atria Investments Inc purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $222,000. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded up $11.17 during mid-day trading on Wednesday, reaching $313.95. The stock had a trading volume of 510,432 shares, compared to its average volume of 391,129. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of -12.52 and a beta of -0.69. 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's fifty day moving average is $331.80 and its 200-day moving average is $302.45.

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Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $103.32 million for the quarter, compared to analysts' expectations of $97.81 million. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 14,113 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James M. Daly sold 15,470 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the transaction, the director now directly owns 1,912 shares of the company's stock, valued at $664,324.40. The trade was a 89.00 % 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. Company insiders own 22.80% of the company's stock.

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.