1,736 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,736 shares of the biopharmaceutical company’s stock, valued at approximately $368,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDGL. First Horizon Advisors Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 98 shares in the last quarter. Signaturefd LLC lifted its position in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares during the period. Quest Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 209 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of Madrigal Pharmaceuticals by 615.4% in the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 320 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fred B. Craves sold 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total value of $1,135,116.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $3,468,410. This trade represents a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $3,830,836 over the last 90 days. Insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MDGL shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer decreased their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. HC Wainwright reiterated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, UBS Group lifted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two 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 data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Stock Up 2.1 %

Shares of Madrigal Pharmaceuticals stock opened at $310.99 on Tuesday. The business has a 50-day moving average price of $282.31 and a 200 day moving average price of $265.36. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The firm has a market cap of $6.78 billion, a P/E ratio of -12.40 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 issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter last year, the firm posted ($5.34) earnings per share. On average, sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

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.