Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Holdings Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,530 shares of the biopharmaceutical company’s stock after selling 96 shares during the quarter. Principal Financial Group Inc.’s holdings in Madrigal Pharmaceuticals were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDGL. Nisa Investment Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 368 shares in the last quarter. KBC Group NV boosted its stake in shares of Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 258 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $216,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 12.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock worth $251,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Transactions at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 1,584 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the transaction, the chief executive officer now directly owns 54,303 shares of the company’s stock, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Rebecca Taub sold 1,689 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the transaction, the chief marketing officer now directly owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,787 shares of company stock valued at $7,351,029. Corporate insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 5.3 %

Madrigal Pharmaceuticals stock opened at $328.77 on Friday. The business has a 50 day moving average price of $324.17 and a two-hundred day moving average price of $287.02. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of -13.11 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 12 month low of $189.00 and a 12 month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. As a group, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Wall Street Analyst Weigh In

MDGL has been the subject of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Citigroup boosted their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $375.75.

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.