Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by First National Trust Co

First National Trust Co lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,414 shares of the biopharmaceutical company’s stock after selling 455 shares during the quarter. First National Trust Co’s holdings in Madrigal Pharmaceuticals were worth $1,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MDGL. Montag A & Associates Inc. increased its stake in shares of Madrigal Pharmaceuticals by 223.3% during the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 134 shares during the period. Global Retirement Partners LLC grew its position in Madrigal Pharmaceuticals by 454.5% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Madrigal Pharmaceuticals by 95.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 228 shares during the last quarter. Quantbot Technologies LP acquired a new position in Madrigal Pharmaceuticals in the third quarter worth approximately $72,000. Finally, Exchange Traded Concepts LLC grew its position in Madrigal Pharmaceuticals by 289.9% in the third quarter. Exchange Traded Concepts LLC now owns 655 shares of the biopharmaceutical company’s stock worth $96,000 after buying an additional 487 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 6.4 %

Shares of NASDAQ:MDGL traded up $13.79 during trading on Friday, reaching $229.84. 441,775 shares of the company traded hands, compared to its average volume of 392,792. The firm has a fifty day simple moving average of $240.99 and a 200 day simple moving average of $215.18. The firm has a market cap of $4.89 billion, a P/E ratio of -11.53 and a beta of -0.33. Madrigal Pharmaceuticals, Inc. has a 1-year low of $119.76 and a 1-year high of $313.11. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same quarter in the prior year, the business earned ($4.98) EPS. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -21.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the sale, the director now owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the sale, the director now owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Rebecca Taub sold 27,845 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $245.14, for a total transaction of $6,825,923.30. Following the completion of the sale, the chief marketing officer now directly owns 458,999 shares of the company’s stock, valued at approximately $112,519,014.86. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock valued at $31,362,420 in the last quarter. Company insiders own 23.92% of the company’s stock.

Wall Street Analyst Weigh In

MDGL has been the topic of several recent research reports. 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 research report on Wednesday, March 20th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, April 12th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $155.00 to $270.00 in a research report on Friday, March 15th. Oppenheimer lifted their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Finally, JMP Securities lifted their price objective on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.73.

About Madrigal Pharmaceuticals

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.