Creative Planning Has $900,000 Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Creative Planning lifted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,212 shares of the biopharmaceutical company’s stock after purchasing an additional 535 shares during the quarter. Creative Planning’s holdings in Madrigal Pharmaceuticals were worth $900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MDGL. First Horizon Advisors Inc. grew its position in shares of Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 98 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $41,000. Signaturefd LLC grew its position in shares of Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 39 shares during the period. Quest Partners LLC grew its position in shares of Madrigal Pharmaceuticals by 5,225.0% in the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 209 shares during the period. Finally, BNP Paribas acquired a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $68,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Trading Up 1.7 %

Shares of Madrigal Pharmaceuticals stock opened at $214.15 on Friday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $119.76 and a 12-month high of $299.98. The business’s 50 day moving average is $236.79 and its 200-day moving average is $245.62. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.65 billion, a P/E ratio of -8.40 and a beta of -0.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. During the same quarter last year, the company posted ($4.69) EPS. The firm’s revenue was up 146280.0% on a year-over-year basis. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MDGL has been the subject of a number of recent research reports. JMP Securities upped their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Friday. Citigroup reduced their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday. Finally, Evercore ISI reduced their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $343.83.

Madrigal Pharmaceuticals 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.