US Bancorp DE Sells 229 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

US Bancorp DE decreased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 28.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 563 shares of the biopharmaceutical company’s stock after selling 229 shares during the period. US Bancorp DE’s holdings in Madrigal Pharmaceuticals were worth $119,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Madrigal Pharmaceuticals by 66.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,176 shares of the biopharmaceutical company’s stock valued at $886,000 after purchasing an additional 1,672 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares in the last quarter. Cavalier Investments LLC bought a new stake in Madrigal Pharmaceuticals during the third quarter worth about $773,000. Creative Planning grew its stake in Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after buying an additional 87 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Madrigal Pharmaceuticals by 2.8% during the third quarter. Handelsbanken Fonder AB now owns 32,500 shares of the biopharmaceutical company’s stock worth $6,897,000 after buying an additional 900 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Insider Activity

In other news, Director Richard S. Levy sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the sale, the director now owns 11,012 shares in the company, valued at $3,313,951.28. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William John Sibold sold 6,363 shares of the business’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 value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDGL. Citigroup dropped their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. B. Riley lifted their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Evercore ISI decreased their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Stock Down 4.7 %

Shares of NASDAQ MDGL opened at $288.58 on Friday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $160.15 and a 1 year high of $368.29. 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 firm has a market cap of $6.29 billion, a PE ratio of -11.51 and a beta of -0.46. The company has a 50 day simple moving average of $242.95 and a 200 day simple moving average of $250.20.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter last year, the firm posted ($5.34) EPS. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current 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.