Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stake Lessened by HighTower Advisors LLC

HighTower Advisors LLC lessened its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,676 shares of the biopharmaceutical company’s stock after selling 108 shares during the period. HighTower Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Erste Asset Management GmbH purchased a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth about $49,749,000. Paulson & CO. Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after purchasing an additional 192,000 shares during the period. Braidwell LP purchased a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth approximately $39,010,000. Fiera Capital Corp acquired a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $32,335,000. Finally, Avoro Capital Advisors LLC grew its position in Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after purchasing an additional 111,111 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fred B. Craves sold 3,600 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total value of $1,135,116.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $3,468,410. This represents a 24.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $3,830,836 in the last quarter. 22.80% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Stock Up 5.1 %

MDGL opened at $308.44 on Monday. The firm has a market cap of $6.73 billion, a P/E ratio of -12.30 and a beta of -0.42. 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 business has a 50 day moving average price of $291.20 and a 200 day moving average price of $267.65. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period in the prior year, the business earned ($5.34) EPS. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MDGL shares. B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. UBS Group boosted their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $347.33.

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.