Commonwealth Equity Services LLC Acquires 1,114 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Commonwealth Equity Services LLC lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 116.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,068 shares of the biopharmaceutical company’s stock after purchasing an additional 1,114 shares during the period. Commonwealth Equity Services LLC’s holdings in Madrigal Pharmaceuticals were worth $579,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in Madrigal Pharmaceuticals by 35.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,920 shares of the biopharmaceutical company’s stock worth $444,000 after buying an additional 499 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Madrigal Pharmaceuticals by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 3,875 shares of the biopharmaceutical company’s stock worth $897,000 after acquiring an additional 142 shares in the last quarter. Norges Bank bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $33,686,000. UBS Group AG lifted its holdings in Madrigal Pharmaceuticals by 57.3% during the fourth quarter. UBS Group AG now owns 88,377 shares of the biopharmaceutical company’s stock valued at $20,449,000 after purchasing an additional 32,192 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Madrigal Pharmaceuticals by 19.0% in the fourth quarter. Hsbc Holdings PLC now owns 16,949 shares of the biopharmaceutical company’s stock worth $3,922,000 after purchasing an additional 2,706 shares during the period. 98.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MDGL shares. Citigroup decreased their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JMP Securities raised their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. Evercore ISI cut their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $343.83.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $233.49 on Friday. The company has a market cap of $5.07 billion, a price-to-earnings ratio of -10.11 and a beta of -0.43. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $299.98. The stock’s 50 day simple moving average is $255.47 and its two-hundred day simple moving average is $250.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, topping the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. The company’s revenue for the quarter was up 146280.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($4.69) EPS. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.92% of the company’s stock.

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.