HighTower Advisors LLC Decreases Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

HighTower Advisors LLC decreased its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,676 shares of the biopharmaceutical company’s stock after selling 108 shares during the period. HighTower Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $355,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MDGL. Signaturefd LLC increased its position in shares of Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 39 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares in the last quarter. Quest Partners LLC increased its holdings in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $163,000. Finally, Amalgamated Bank boosted its stake in shares of Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 102 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MDGL shares. UBS Group lifted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. HC Wainwright restated a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, B. Riley increased their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $347.33.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $308.44 on Monday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month 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 stock has a fifty day moving average price of $291.20 and a 200 day moving average price of $267.65. The company has a market cap of $6.73 billion, a P/E ratio of -12.30 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the prior year, the company posted ($5.34) EPS. On average, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Fred B. Craves sold 3,400 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the transaction, the director now owns 14,600 shares in the company, valued at $5,114,380. This trade represents a 18.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction on 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 transaction, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,000 shares of company stock worth $3,830,836. Insiders own 22.80% of the company’s stock.

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.