Commonwealth Equity Services LLC Sells 116 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Commonwealth Equity Services LLC decreased its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,836 shares of the biopharmaceutical company’s stock after selling 116 shares during the period. Commonwealth Equity Services LLC’s holdings in Madrigal Pharmaceuticals were worth $567,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $70,000. KBC Group NV boosted its position in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 258 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $216,000. D.A. Davidson & CO. purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $221,000. Finally, Atria Investments Inc bought a new position in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $222,000. Institutional investors own 98.50% of the company’s stock.

Insider Activity

In related news, Director James M. Daly sold 15,470 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now directly owns 1,912 shares of the company’s stock, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carole Huntsman sold 347 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the sale, the insider now directly owns 10,438 shares in the company, valued at approximately $3,499,235.12. The trade was a 3.22 % 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 quarter. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 3.9 %

MDGL stock opened at $314.39 on Friday. The business’s 50-day moving average price is $333.68 and its 200-day moving average price is $299.84. The stock has a market cap of $6.94 billion, a P/E ratio of -12.54 and a beta of -0.68. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a twelve month low of $189.00 and a twelve month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued 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 firm had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. On average, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDGL. Citigroup raised their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. JMP Securities restated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. HC Wainwright upped their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $378.44.

Madrigal Pharmaceuticals 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.