Victory Capital Management Inc. Has $21.80 Million Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Victory Capital Management Inc. boosted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 2,981.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,635 shares of the biopharmaceutical company's stock after purchasing an additional 68,343 shares during the period. Victory Capital Management Inc. owned about 0.32% of Madrigal Pharmaceuticals worth $21,796,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock valued at $320,000 after purchasing an additional 31 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Madrigal Pharmaceuticals by 5.2% during the fourth quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company's stock worth $422,000 after acquiring an additional 62 shares in the last quarter. Franklin Resources Inc. boosted its position in Madrigal Pharmaceuticals by 8.0% in the third quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company's stock valued at $298,000 after buying an additional 103 shares in the last quarter. Cavalier Investments LLC grew its position in Madrigal Pharmaceuticals by 4.0% during the 4th quarter. Cavalier Investments LLC now owns 3,785 shares of the biopharmaceutical company's stock worth $1,168,000 after acquiring an additional 144 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $70,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MDGL shares. B. Riley upgraded shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and raised their price target for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Citigroup upped their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, HC Wainwright increased their target price on 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 assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $375.75.

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Madrigal Pharmaceuticals Trading Up 1.9 %

Shares of MDGL stock opened at $335.39 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46. The stock has a fifty day simple moving average of $325.42 and a two-hundred day simple moving average of $289.11. The firm has a market capitalization of $7.41 billion, a PE ratio of -13.37 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating analysts' consensus estimates of ($4.32) by $1.61. The firm 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 fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 1,689 shares of the company's 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 transaction, the chief marketing officer now directly owns 457,310 shares of the company's stock, valued at $125,033,127.10. This represents a 0.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William John Sibold sold 1,584 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 54,303 shares of the company's stock, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock valued at $12,168,079 in the last quarter. 22.80% of the stock is owned by insiders.

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.

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