Quest Partners LLC Acquires 209 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Quest Partners LLC increased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5,225.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213 shares of the biopharmaceutical company’s stock after acquiring an additional 209 shares during the quarter. Quest Partners LLC’s holdings in Madrigal Pharmaceuticals were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Arizona State Retirement System increased its stake in shares of Madrigal Pharmaceuticals by 8.3% during the second quarter. Arizona State Retirement System now owns 3,525 shares of the biopharmaceutical company’s stock valued at $988,000 after purchasing an additional 270 shares in the last quarter. Victory Capital Management Inc. increased its position in Madrigal Pharmaceuticals by 5.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock valued at $631,000 after buying an additional 124 shares in the last quarter. TD Asset Management Inc raised its stake in Madrigal Pharmaceuticals by 10.7% during the second quarter. TD Asset Management Inc now owns 55,730 shares of the biopharmaceutical company’s stock valued at $15,613,000 after buying an additional 5,400 shares during the last quarter. Fiera Capital Corp bought a new stake in Madrigal Pharmaceuticals in the second quarter worth $32,335,000. Finally, Rhumbline Advisers grew its stake in shares of Madrigal Pharmaceuticals by 19.9% in the second quarter. Rhumbline Advisers now owns 25,351 shares of the biopharmaceutical company’s stock worth $7,102,000 after acquiring an additional 4,209 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Down 0.1 %

Madrigal Pharmaceuticals stock opened at $233.16 on Thursday. Madrigal Pharmaceuticals, Inc. has a one year low of $119.76 and a one year high of $299.98. The stock has a fifty day moving average of $257.48 and a 200 day moving average of $250.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. The stock has a market cap of $4.97 billion, a PE ratio of -10.10 and a beta of -0.43.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million for the quarter, compared to analysts’ expectations of $4.25 million. During the same period in the previous year, the company earned ($4.69) EPS. Madrigal Pharmaceuticals’s revenue for the quarter was up 146280.0% compared to the same quarter last year. As a group, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.67 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MDGL shares. Evercore ISI lowered their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. JMP Securities increased their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Monday, September 9th. Finally, Citigroup cut their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $343.83.

About Madrigal Pharmaceuticals

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.