Quest Partners LLC Boosts Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Quest Partners LLC raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 172.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 581 shares of the biopharmaceutical company’s stock after acquiring an additional 368 shares during the period. Quest Partners LLC’s holdings in Madrigal Pharmaceuticals were worth $123,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of MDGL. Avoro Capital Advisors LLC raised 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 acquiring an additional 111,111 shares in the last quarter. Paulson & CO. Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 4.2% during the 2nd quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock valued at $518,296,000 after purchasing an additional 75,000 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $32,335,000. American Century Companies Inc. boosted its holdings in Madrigal Pharmaceuticals by 13.7% during the second quarter. American Century Companies Inc. now owns 111,113 shares of the biopharmaceutical company’s stock worth $31,130,000 after buying an additional 13,361 shares in the last quarter. Finally, Fred Alger Management LLC increased its holdings in Madrigal Pharmaceuticals by 58.7% in the second quarter. Fred Alger Management LLC now owns 102,455 shares of the biopharmaceutical company’s stock valued at $28,704,000 after buying an additional 37,879 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MDGL shares. HC Wainwright reissued a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Oppenheimer lowered their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Citigroup cut their price objective 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. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, Evercore ISI cut their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $347.33.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. This trade represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,763 shares of company stock worth $4,247,210 in the last quarter. Company insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 1.6 %

MDGL stock opened at $331.45 on Friday. The company has a market cap of $7.23 billion, a price-to-earnings ratio of -13.22 and a beta of -0.46. The firm has a 50-day moving average of $260.42 and a two-hundred day moving average of $257.90. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month high of $368.29. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) EPS. As a group, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current fiscal year.

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.