Miracle Mile Advisors LLC Invests $216,000 in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Miracle Mile Advisors LLC bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 700 shares of the biopharmaceutical company’s stock, valued at approximately $216,000.

A number of other large investors have also made changes to their positions in MDGL. Nisa Investment Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 47.6% during the 3rd 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. Quest Partners LLC raised its stake in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in Madrigal Pharmaceuticals in the second quarter valued at $163,000. Amalgamated Bank lifted its stake in Madrigal Pharmaceuticals by 20.2% in the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 102 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at approximately $204,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $272.79 on Friday. The company’s fifty day simple moving average is $315.33 and its 200 day simple moving average is $272.58. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of -10.88 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the previous year, the firm earned ($5.34) EPS. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 5,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 11,012 shares in the company, valued at $3,313,951.28. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fred B. Craves sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now owns 14,600 shares in the company, valued at $5,114,380. The trade was a 18.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,000 shares of company stock valued at $3,830,836. 22.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on MDGL shares. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley increased their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Oppenheimer decreased their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, UBS Group upped their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $351.67.

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.