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

AtonRa Partners lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,433 shares of the biopharmaceutical company’s stock after selling 424 shares during the quarter. Madrigal Pharmaceuticals comprises approximately 1.6% of AtonRa Partners’ portfolio, making the stock its 9th biggest position. AtonRa Partners’ holdings in Madrigal Pharmaceuticals were worth $794,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MDGL. AlpInvest Partners B.V. bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $48,934,000. RA Capital Management L.P. bought a new stake in Madrigal Pharmaceuticals in the third quarter worth $29,865,000. Vanguard Group Inc. grew its stake in shares of Madrigal Pharmaceuticals by 7.4% in the third quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after acquiring an additional 107,816 shares during the last quarter. FMR LLC increased its holdings in shares of Madrigal Pharmaceuticals by 26.2% during the third quarter. FMR LLC now owns 440,380 shares of the biopharmaceutical company’s stock valued at $64,313,000 after acquiring an additional 91,337 shares in the last quarter. Finally, RTW Investments LP increased its holdings in shares of Madrigal Pharmaceuticals by 39.7% during the third quarter. RTW Investments LP now owns 309,485 shares of the biopharmaceutical company’s stock valued at $45,197,000 after acquiring an additional 87,923 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 2,676 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $245.99, for a total transaction of $658,269.24. Following the sale, the chief marketing officer now directly owns 458,999 shares of the company’s stock, valued at $112,909,164.01. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 2,676 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $245.99, for a total value of $658,269.24. Following the completion of the transaction, the chief marketing officer now directly owns 458,999 shares in the company, valued at approximately $112,909,164.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred 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 sale, 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. Insiders sold a total of 146,496 shares of company stock valued at $31,362,420 over the last three months. Corporate insiders own 23.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MDGL. Evercore ISI increased their price objective on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Piper Sandler reiterated an “overweight” rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. Oppenheimer boosted their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, April 12th. Finally, B. Riley raised Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $155.00 to $270.00 in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $356.73.

Madrigal Pharmaceuticals Stock Performance

MDGL traded up $7.74 during midday trading on Monday, reaching $201.07. The company had a trading volume of 357,096 shares, compared to its average volume of 527,416. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $322.67. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28. The company has a market cap of $4.00 billion, a P/E ratio of -9.80 and a beta of -0.47. The business has a 50-day moving average of $243.29 and a two-hundred day moving average of $213.14.

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

Madrigal Pharmaceuticals Company 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.