Sei Investments Co. Sells 1,023 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Sei Investments Co. cut its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,229 shares of the biopharmaceutical company’s stock after selling 1,023 shares during the quarter. Sei Investments Co.’s holdings in Madrigal Pharmaceuticals were worth $2,539,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new position in Madrigal Pharmaceuticals during the 4th quarter valued at $70,000. KBC Group NV raised its position in shares of Madrigal Pharmaceuticals by 73.5% during the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 258 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $216,000. D.A. Davidson & CO. bought a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at about $221,000. Finally, Atria Investments Inc acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $222,000. 98.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MDGL has been the subject of several recent research reports. HC Wainwright upped their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Citigroup raised their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $378.44.

Insiders Place Their Bets

In related news, CMO Rebecca Taub sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the transaction, the chief marketing officer now owns 457,310 shares in the company, valued at $125,033,127.10. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James M. Daly sold 15,470 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,900 shares of company stock valued at $12,168,079. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 3.9 %

Shares of Madrigal Pharmaceuticals stock opened at $314.39 on Friday. The company has a 50-day simple moving average of $333.68 and a 200 day simple moving average of $299.84. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46. The stock has a market capitalization 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 (NASDAQ:MDGL) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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.