Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Sectoral Asset Management Inc.

Sectoral Asset Management Inc. decreased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) by 94.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,201 shares of the biopharmaceutical company’s stock after selling 19,700 shares during the period. Sectoral Asset Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Montag A & Associates Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 223.3% in the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 134 shares during the period. Global Retirement Partners LLC raised its position in Madrigal Pharmaceuticals by 454.5% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Quantbot Technologies LP acquired a new position in Madrigal Pharmaceuticals during the third quarter worth about $72,000. Xponance Inc. acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $206,000. Finally, New Harbor Financial Group LLC acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $211,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the sale, the director now directly owns 1,198 shares in the company, valued at approximately $123,118.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,036 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total value of $239,668.24. Following the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,272,370. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the completion of the transaction, the director now directly owns 1,198 shares in the company, valued at approximately $123,118.46. The disclosure for this sale can be found here. Insiders sold 170,021 shares of company stock worth $36,389,547 in the last 90 days. Corporate insiders own 23.92% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the subject of a number of research reports. Canaccord Genuity Group lifted their target price on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Evercore ISI lifted their price target on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. JMP Securities lowered their price target on shares of Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating for the company in a report on Wednesday, May 8th. Bank of America assumed coverage on shares of Madrigal Pharmaceuticals in a report on Monday, April 22nd. They set an “underperform” rating and a $150.00 price target for the company. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $345.09.

Get Our Latest Research Report on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Trading Up 1.2 %

MDGL stock traded up $2.99 during midday trading on Friday, reaching $244.34. 467,557 shares of the company’s stock traded hands, compared to its average volume of 520,786. The business has a 50-day moving average price of $226.70 and a two-hundred day moving average price of $229.33. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $299.98. The company has a market capitalization of $5.21 billion, a P/E ratio of -10.58 and a beta of -0.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.39 and a quick ratio of 9.39.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same quarter in the prior year, the business posted ($4.23) EPS. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -27.62 EPS for the current fiscal year.

Madrigal Pharmaceuticals Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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