venBio Select Advisor LLC trimmed its stake in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 51.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 225,000 shares of the biopharmaceutical company’s stock after selling 238,000 shares during the quarter. Madrigal Pharmaceuticals accounts for about 1.5% of venBio Select Advisor LLC’s holdings, making the stock its 15th largest position. venBio Select Advisor LLC’s holdings in Madrigal Pharmaceuticals were worth $25,362,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Madrigal Pharmaceuticals by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 34,535 shares of the biopharmaceutical company’s stock valued at $9,659,000 after purchasing an additional 3,387 shares during the period. First Trust Advisors LP bought a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $255,000. State Board of Administration of Florida Retirement System raised its position in shares of Madrigal Pharmaceuticals by 22.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 2,572 shares of the biopharmaceutical company’s stock valued at $551,000 after purchasing an additional 470 shares during the period. Wells Fargo & Company MN raised its position in shares of Madrigal Pharmaceuticals by 36.9% in the third quarter. Wells Fargo & Company MN now owns 13,749 shares of the biopharmaceutical company’s stock valued at $2,944,000 after purchasing an additional 3,709 shares during the period. Finally, WINTON GROUP Ltd raised its position in shares of Madrigal Pharmaceuticals by 118.2% in the third quarter. WINTON GROUP Ltd now owns 3,216 shares of the biopharmaceutical company’s stock valued at $689,000 after purchasing an additional 1,742 shares during the period. Institutional investors own 59.06% of the company’s stock.

Shares of Madrigal Pharmaceuticals stock traded up $2.25 during midday trading on Friday, hitting $137.57. The company had a trading volume of 2,872 shares, compared to its average volume of 232,003. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -61.96 and a beta of 1.21. Madrigal Pharmaceuticals Inc has a 1-year low of $91.56 and a 1-year high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.01). During the same period last year, the business posted ($0.67) EPS. On average, analysts anticipate that Madrigal Pharmaceuticals Inc will post -3.81 earnings per share for the current year.

A number of research firms have recently commented on MDGL. ValuEngine raised shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday. B. Riley assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, December 11th. They issued a “neutral” rating and a $124.00 price objective on the stock. Oppenheimer set a $200.00 price objective on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 4th. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 17th. Finally, Wolfe Research assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Friday, December 14th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $221.18.

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Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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

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