Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Holdings Trimmed by AtonRa Partners

AtonRa Partners reduced its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,433 shares of the biopharmaceutical company’s stock after selling 424 shares during the period. Madrigal Pharmaceuticals makes up 1.6% of AtonRa Partners’ holdings, making the stock its 9th largest position. AtonRa Partners’ holdings in Madrigal Pharmaceuticals were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDGL. AlpInvest Partners B.V. acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $48,934,000. RA Capital Management L.P. purchased a new stake in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $29,865,000. Vanguard Group Inc. grew its position in Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after purchasing an additional 107,816 shares during the last quarter. FMR LLC increased its stake in Madrigal Pharmaceuticals by 26.2% during the 3rd quarter. FMR LLC now owns 440,380 shares of the biopharmaceutical company’s stock valued at $64,313,000 after purchasing an additional 91,337 shares in the last quarter. Finally, RTW Investments LP raised its holdings in shares of Madrigal Pharmaceuticals by 39.7% in the third quarter. RTW Investments LP now owns 309,485 shares of the biopharmaceutical company’s stock worth $45,197,000 after buying an additional 87,923 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. 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 objective on the stock. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, April 12th. Evercore ISI raised their target price 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. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and boosted their target price for the company from $155.00 to $270.00 in a research report on Friday, March 15th. Finally, Oppenheimer increased their price target on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $356.73.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL traded up $7.74 during trading hours on Monday, reaching $201.07. The company’s stock had a trading volume of 357,096 shares, compared to its average volume of 527,416. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -9.80 and a beta of -0.47. The company’s 50-day moving average is $243.29 and its two-hundred day moving average is $213.14. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. Madrigal Pharmaceuticals, Inc. has a 1-year low of $119.76 and a 1-year high of $322.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period last year, the business earned ($4.98) earnings per share. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -21.86 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction dated 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 sale, the director now owns 10,298 shares in the company, valued at $2,651,529.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Paul A. Friedman sold 18,710 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $242.96, for a total transaction of $4,545,781.60. Following the completion of the sale, the director now directly owns 185,735 shares in the company, valued at $45,126,175.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 11,000 shares of the firm’s 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 transaction, the director now owns 10,298 shares in the company, valued at approximately $2,651,529.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,496 shares of company stock worth $31,362,420. Company insiders own 23.92% of the company’s stock.

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.