Vanguard Group Inc. Sells 127,633 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Vanguard Group Inc. trimmed its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,706,135 shares of the biopharmaceutical company’s stock after selling 127,633 shares during the quarter. Vanguard Group Inc. owned 0.08% of Madrigal Pharmaceuticals worth $526,462,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MDGL. XTX Topco Ltd purchased a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $1,036,000. Geode Capital Management LLC boosted its position in Madrigal Pharmaceuticals by 1.5% during the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $1,297,000. BNP Paribas Financial Markets raised its holdings in Madrigal Pharmaceuticals by 97.1% in the third quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company’s stock worth $2,073,000 after purchasing an additional 4,811 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $1,223,000. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MDGL shares. Citigroup lifted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. HC Wainwright raised their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $378.44.

Insiders Place Their Bets

In related news, VP Robert E. Waltermire sold 14,113 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the transaction, the vice president now owns 3,728 shares of the company’s stock, valued at $1,272,440.96. This trade represents a 79.10 % 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 James M. Daly sold 15,470 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now owns 1,912 shares of the company’s stock, valued at $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is owned by insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $331.23 on Tuesday. The business has a fifty day moving average of $333.68 and a 200 day moving average of $298.25. Madrigal Pharmaceuticals, Inc. has a 1 year low of $189.00 and a 1 year high of $377.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of -13.21 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. As a group, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current 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.