Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Fmr LLC

Fmr LLC reduced its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 783,545 shares of the biopharmaceutical company’s stock after selling 5,458 shares during the period. Fmr LLC owned 3.59% of Madrigal Pharmaceuticals worth $166,284,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its stake in shares of Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock worth $320,000 after purchasing an additional 31 shares in the last quarter. Signaturefd LLC increased its stake in Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares during the period. Victory Capital Management Inc. increased its stake in Madrigal Pharmaceuticals by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 40 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after acquiring an additional 87 shares during the period. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $321.36 on Wednesday. The company has a 50 day moving average price of $266.13 and a two-hundred day moving average price of $260.80. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29. The stock has a market capitalization of $7.01 billion, a PE ratio of -12.81 and a beta of -0.42. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

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

Insiders Place Their Bets

In related news, Director Fred B. Craves sold 3,400 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the transaction, the director now owns 14,600 shares of the company’s stock, valued at approximately $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William John Sibold sold 6,363 shares of the stock in a transaction on Monday, September 9th. The shares were 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 directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,763 shares of company stock valued at $4,247,210 over the last 90 days. 22.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MDGL has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. B. Riley boosted their price target 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. Finally, Citigroup reduced their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average 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.