Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 2.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,094 shares of the biopharmaceutical company’s stock after selling 90 shares during the period. Orion Portfolio Solutions LLC’s holdings in Madrigal Pharmaceuticals were worth $955,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MDGL. Geode Capital Management LLC raised its holdings 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 worth $86,104,000 after purchasing an additional 5,801 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $1,036,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth $1,297,000. BNP Paribas Financial Markets lifted its holdings in shares of Madrigal Pharmaceuticals by 97.1% in the third quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company’s stock valued at $2,073,000 after buying an additional 4,811 shares during the period. Finally, Barclays PLC boosted its stake in Madrigal Pharmaceuticals by 159.9% during the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after buying an additional 24,783 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDGL has been the topic of several research reports. Citigroup boosted their price target 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. JMP Securities reiterated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their price target for the company from $236.00 to $422.00 in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $378.44.

Madrigal Pharmaceuticals Trading Down 3.9 %

NASDAQ MDGL opened at $314.39 on Friday. The firm’s 50 day moving average price is $333.68 and its two-hundred day moving average price is $300.30. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of -12.54 and a beta of -0.68. Madrigal Pharmaceuticals, Inc. has a twelve month low of $189.00 and a twelve month high of $377.46. 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 posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, General Counsel Shannon T. Kelley sold 277 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $75,734.57. Following the completion of the sale, the general counsel now directly owns 7,705 shares of the company’s stock, valued at $2,106,624.05. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the sale, the chief executive officer now owns 54,303 shares of the company’s stock, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock valued at $12,168,079 over the last three months. 22.80% of the stock is owned by corporate insiders.

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.