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:MDGL) 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:MDGL) 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.

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.