Hennion & Walsh Asset Management Inc. Sells 9,013 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Hennion & Walsh Asset Management Inc. trimmed its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 47.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,904 shares of the biopharmaceutical company’s stock after selling 9,013 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $3,056,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MDGL. Oppenheimer Asset Management Inc. boosted its position in Madrigal Pharmaceuticals by 2.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock worth $320,000 after acquiring an additional 31 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 40 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares in the last quarter. Creative Planning boosted its holdings in Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares during the last quarter. Finally, Verity Asset Management Inc. grew its position in Madrigal Pharmaceuticals by 7.4% in the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock valued at $311,000 after purchasing an additional 101 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related 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 transaction of $1,504,700.00. Following the completion of the sale, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fred B. Craves sold 3,600 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $3,468,410. This represents a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $3,830,836 in the last three months. 22.80% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Trading Down 0.6 %

MDGL opened at $272.79 on Friday. The stock’s fifty day simple moving average is $315.33 and its 200 day simple moving average is $272.58. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period in the previous year, the company earned ($5.34) earnings per share. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on MDGL. HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. B. Riley increased their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Oppenheimer lowered their price target 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. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $351.67.

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.