Mutual of America Capital Management LLC Has $3.18 Million Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Mutual of America Capital Management LLC lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,348 shares of the biopharmaceutical company’s stock after selling 491 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Madrigal Pharmaceuticals worth $3,179,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 98 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth approximately $41,000. Signaturefd LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares in the last quarter. UMB Bank n.a. acquired a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at $53,000. Finally, Quest Partners LLC increased its stake in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 209 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 3.3 %

MDGL stock opened at $225.72 on Tuesday. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $299.98. The stock has a fifty day moving average of $254.38 and a 200-day moving average of $249.87. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of -9.78 and a beta of -0.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72.

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

Insider Buying and Selling

In other news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The sale was disclosed in a document filed with the SEC, which is available at this link. 23.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MDGL shares. JMP Securities boosted their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Friday. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Wolfe Research assumed coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price objective on the stock. Finally, Evercore ISI reduced their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $343.83.

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.