Arizona State Retirement System Buys 167 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Arizona State Retirement System increased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,032 shares of the biopharmaceutical company’s stock after buying an additional 167 shares during the quarter. Arizona State Retirement System’s holdings in Madrigal Pharmaceuticals were worth $702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MDGL. Alliancebernstein L.P. raised its position in Madrigal Pharmaceuticals by 1,468.0% in the 2nd quarter. Alliancebernstein L.P. now owns 371,116 shares of the biopharmaceutical company’s stock worth $85,728,000 after purchasing an additional 347,448 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth approximately $33,616,000. Perceptive Advisors LLC raised its holdings in shares of Madrigal Pharmaceuticals by 50.6% in the first quarter. Perceptive Advisors LLC now owns 650,562 shares of the biopharmaceutical company’s stock worth $157,605,000 after buying an additional 218,630 shares during the period. RA Capital Management L.P. bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth approximately $29,865,000. Finally, Renaissance Technologies LLC boosted its holdings in Madrigal Pharmaceuticals by 3,727.6% during the 1st quarter. Renaissance Technologies LLC now owns 175,382 shares of the biopharmaceutical company’s stock valued at $42,488,000 after acquiring an additional 170,800 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the transaction, the director now directly owns 1,198 shares in the company, valued at approximately $123,118.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 27,845 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $245.14, for a total value of $6,825,923.30. Following the completion of the transaction, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at $112,519,014.86. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $102.77, for a total value of $3,338,894.53. Following the sale, the director now directly owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock valued at $31,362,420 in the last quarter. 23.92% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Trading Down 2.7 %

Shares of NASDAQ MDGL opened at $222.26 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $119.76 and a 1-year high of $322.67. The business has a fifty day moving average price of $244.25 and a 200 day moving average price of $209.44. The stock has a market capitalization of $4.42 billion, a P/E ratio of -11.15 and a beta of -0.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same quarter last year, the company posted ($4.98) EPS. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -21.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MDGL shares. Canaccord Genuity Group lifted their target price on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, April 12th. Piper Sandler reaffirmed an “overweight” rating and set a $336.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th. UBS Group increased their price target on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, HC Wainwright raised their price target on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $377.40.

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.