Mutual of America Capital Management LLC Reduces Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Mutual of America Capital Management LLC reduced its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,242 shares of the biopharmaceutical company’s stock after selling 106 shares during the period. Mutual of America Capital Management LLC’s holdings in Madrigal Pharmaceuticals were worth $2,386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Castleark Management LLC purchased a new stake in Madrigal Pharmaceuticals during the 1st quarter worth about $2,459,000. Russell Investments Group Ltd. acquired a new position in Madrigal Pharmaceuticals in the first quarter valued at approximately $1,466,000. Sofinnova Investments Inc. increased its stake in Madrigal Pharmaceuticals by 133.4% in the second quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company’s stock valued at $12,444,000 after purchasing an additional 25,388 shares during the last quarter. Fiera Capital Corp acquired a new stake in Madrigal Pharmaceuticals during the second quarter worth approximately $32,335,000. Finally, American Century Companies Inc. lifted its position in shares of Madrigal Pharmaceuticals by 13.7% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MDGL shares. Citigroup dropped their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Oppenheimer cut their target price 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. UBS Group raised their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. B. Riley increased their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $347.33.

Insider Activity at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The trade was a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. 22.80% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $347.45 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29. The stock has a market cap of $7.58 billion, a P/E ratio of -13.85 and a beta of -0.46. The stock’s 50 day simple moving average is $252.37 and its 200 day simple moving average is $254.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results 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 firm 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 firm posted ($5.34) earnings per share. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

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.