Mutual of America Capital Management LLC Has $2.96 Million Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Mutual of America Capital Management LLC reduced its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,803 shares of the biopharmaceutical company’s stock after selling 572 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Madrigal Pharmaceuticals worth $2,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MDGL. New Harbor Financial Group LLC acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $211,000. Arizona State Retirement System increased its stake in shares of Madrigal Pharmaceuticals by 5.8% in the 4th quarter. Arizona State Retirement System now owns 3,032 shares of the biopharmaceutical company’s stock valued at $702,000 after acquiring an additional 167 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Madrigal Pharmaceuticals by 389.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $530,000 after acquiring an additional 1,824 shares in the last quarter. AMI Asset Management Corp bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $1,104,000. Finally, JGP Global Gestao de Recursos Ltda. acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $302,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $222.26 on Friday. 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, Inc. has a 1 year low of $119.76 and a 1 year high of $322.67. The stock’s 50 day simple moving average is $244.25 and its two-hundred day simple moving average is $209.44. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -11.15 and a beta of -0.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the previous year, the firm posted ($4.98) earnings per share. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MDGL has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. HC Wainwright upped their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Citigroup upped their target price on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. B. Riley raised Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price objective for the company from $155.00 to $270.00 in a research note on Friday, March 15th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.40.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares in the company, valued at approximately $2,651,529.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares in the company, valued at $2,651,529.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Rebecca Taub sold 2,676 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $245.99, for a total value of $658,269.24. Following the completion of the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at $112,909,164.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,496 shares of company stock worth $31,362,420. 23.92% of the stock is currently owned by company insiders.

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.