1,951 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Purchased by SG Americas Securities LLC

SG Americas Securities LLC bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,951 shares of the biopharmaceutical company’s stock, valued at approximately $414,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Centaurus Financial Inc. purchased a new position in Madrigal Pharmaceuticals during the second quarter worth about $163,000. Sanctuary Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth about $294,000. Dana Investment Advisors Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 13.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 3,713 shares of the biopharmaceutical company’s stock worth $1,040,000 after purchasing an additional 438 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth about $216,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Madrigal Pharmaceuticals by 172.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock worth $11,475,000 after purchasing an additional 97,387 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Trading Down 2.4 %

MDGL opened at $210.47 on Friday. The business has a 50 day simple moving average of $232.65 and a two-hundred day simple moving average of $244.12. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of -8.25 and a beta of -0.44. 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, Inc. has a one year low of $119.76 and a one year high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The business had revenue of $14.64 million for 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 period in the previous year, the company earned ($4.69) EPS. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.47 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MDGL shares. Evercore ISI cut their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JMP Securities upped their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Citigroup cut their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $343.83.

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.