Proficio Capital Partners LLC Acquires New Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Proficio Capital Partners LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 17,280 shares of the biopharmaceutical company’s stock, valued at approximately $5,332,000. Proficio Capital Partners LLC owned 0.08% of Madrigal Pharmaceuticals as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Paulson & CO. Inc. raised its position in Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after purchasing an additional 192,000 shares in the last quarter. RTW Investments LP raised its position in Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after purchasing an additional 77,825 shares in the last quarter. State Street Corp raised its position in Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after purchasing an additional 143,038 shares in the last quarter. Geode Capital Management LLC raised its position in Madrigal Pharmaceuticals by 1.5% during the 3rd 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. Finally, Erste Asset Management GmbH bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $49,749,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 1,689 shares of the business’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 $461,789.49. Following the sale, the chief marketing officer now owns 457,310 shares in the company, valued at approximately $125,033,127.10. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William John Sibold sold 1,584 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the sale, the chief executive officer now owns 54,303 shares in the company, valued at $18,204,537.72. The trade was a 2.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,900 shares of company stock worth $12,168,079. 22.80% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Stock Up 7.8 %

Shares of MDGL stock opened at $348.35 on Monday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46. The stock’s fifty day moving average price is $326.55 and its 200 day moving average price is $290.78. 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 company has a market cap of $7.69 billion, a price-to-earnings ratio of -13.89 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. On average, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MDGL shares. Citigroup lifted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company 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 lifted their target price for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. HC Wainwright boosted their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, JMP Securities reissued a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $378.44.

Get Our Latest Report on Madrigal Pharmaceuticals

About Madrigal Pharmaceuticals

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MDGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report).

Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.