Vanguard Group Inc. Sells 127,633 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Vanguard Group Inc. cut its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,706,135 shares of the biopharmaceutical company's stock after selling 127,633 shares during the period. Vanguard Group Inc. owned about 7.82% of Madrigal Pharmaceuticals worth $526,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several research firms have weighed in on MDGL. JMP Securities restated a "market outperform" rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Citigroup upped their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price target for the company from $236.00 to $422.00 in a report on Thursday, February 27th. Finally, HC Wainwright increased their price objective 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 investment 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. According to data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $378.44.

Remove Ads

Insider Activity at Madrigal Pharmaceuticals

In related 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 directly owns 54,303 shares in the company, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Rebecca Taub sold 1,689 shares of the stock in a transaction dated 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 sale, the chief marketing officer now directly owns 457,310 shares in the company, valued at $125,033,127.10. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,900 shares of company stock worth $12,168,079. Company insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded down $12.71 during trading hours on Friday, reaching $314.39. The company's stock had a trading volume of 343,494 shares, compared to its average volume of 389,006. The firm has a 50 day moving average price of $333.68 and a 200-day moving average price of $300.30. 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 stock has a market cap of $6.94 billion, a P/E ratio of -12.54 and a beta of -0.68. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping 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. On average, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.