Rhumbline Advisers Buys 243 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Rhumbline Advisers raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,440 shares of the biopharmaceutical company’s stock after acquiring an additional 243 shares during the period. Rhumbline Advisers owned about 0.11% of Madrigal Pharmaceuticals worth $7,541,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Nisa Investment Advisors LLC raised its holdings in shares of 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 purchasing an additional 68 shares during the last quarter. Quest Partners LLC boosted its holdings in Madrigal Pharmaceuticals by 172.8% during the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after purchasing an additional 368 shares during the last quarter. KBC Group NV grew its position in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 258 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $216,000. Finally, Sanctuary Advisors LLC increased its stake in Madrigal Pharmaceuticals by 12.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock valued at $251,000 after buying an additional 134 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MDGL shares. JMP Securities restated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley boosted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $351.67.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $309.49 on Wednesday. The firm has a market capitalization of $6.75 billion, a P/E ratio of -12.34 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one 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 business has a fifty day moving average price of $320.09 and a 200-day moving average price of $282.67.

Insiders Place Their Bets

In other news, CMO Rebecca Taub sold 1,689 shares of the company’s stock in a transaction 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 transaction, the chief marketing officer now owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 442 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $120,847.22. Following the completion of the sale, the vice president now owns 5,058 shares in the company, valued at $1,382,907.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,690 shares of company stock worth $2,692,601 in the last quarter. 22.80% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Company 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.