US Bancorp DE Lowers Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

US Bancorp DE reduced its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 491 shares of the biopharmaceutical company’s stock after selling 72 shares during the quarter. US Bancorp DE’s holdings in Madrigal Pharmaceuticals were worth $152,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Proficio Capital Partners LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at $5,332,000. Cavalier Investments LLC lifted its stake in Madrigal Pharmaceuticals by 4.0% in the fourth quarter. Cavalier Investments LLC now owns 3,785 shares of the biopharmaceutical company’s stock worth $1,168,000 after acquiring an additional 144 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter worth about $849,000. Handelsbanken Fonder AB lifted its stake in Madrigal Pharmaceuticals by 0.9% in the fourth quarter. Handelsbanken Fonder AB now owns 32,800 shares of the biopharmaceutical company’s stock worth $10,121,000 after acquiring an additional 300 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in Madrigal Pharmaceuticals in the fourth quarter worth about $4,554,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDGL has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their price objective for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. HC Wainwright upped their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, Citigroup increased their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.44.

Insider Activity

In related news, insider Carole Huntsman sold 347 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $116,328.28. Following the transaction, the insider now owns 10,438 shares in the company, valued at approximately $3,499,235.12. This represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert E. Waltermire sold 442 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the sale, the vice president now directly owns 5,058 shares in the company, valued at $1,382,907.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $12,168,079 over the last 90 days. 22.80% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $348.35 on Friday. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46. 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 company has a market cap of $7.69 billion, a P/E ratio of -13.89 and a beta of -0.41. The firm’s 50-day moving average price is $326.55 and its 200-day moving average price is $290.50.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal 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.