Prudential Financial Inc. Increases Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Prudential Financial Inc. increased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 166.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,655 shares of the biopharmaceutical company’s stock after acquiring an additional 2,282 shares during the quarter. Prudential Financial Inc.’s holdings in Madrigal Pharmaceuticals were worth $1,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $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 acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $216,000. D.A. Davidson & CO. purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth approximately $221,000. Finally, Atria Investments Inc purchased a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $222,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Trading Down 3.9 %

MDGL opened at $314.39 on Monday. The business’s 50 day moving average price is $333.68 and its 200 day moving average price is $300.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock has a market capitalization of $6.94 billion, a PE 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) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share 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. As a group, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 1,689 shares of the company’s stock in a transaction on 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 in the company, valued at $125,033,127.10. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William John Sibold sold 1,584 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 $531,020.16. Following the completion of the sale, the chief executive officer now directly owns 54,303 shares of the company’s stock, valued at $18,204,537.72. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock valued at $12,168,079 over the last 90 days. 22.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MDGL shares. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Citigroup upped their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $378.44.

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.