Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Holdings Reduced by AMI Asset Management Corp

AMI Asset Management Corp lowered its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,013 shares of the biopharmaceutical company’s stock after selling 472 shares during the quarter. AMI Asset Management Corp’s holdings in Madrigal Pharmaceuticals were worth $1,064,000 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. China Universal Asset Management Co. Ltd. lifted its position in shares of Madrigal Pharmaceuticals by 66.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,176 shares of the biopharmaceutical company’s stock worth $886,000 after buying an additional 1,672 shares during the last quarter. Nisa Investment Advisors LLC lifted its position 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 worth $45,000 after buying an additional 68 shares during the last quarter. Cavalier Investments LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth about $773,000. Creative Planning lifted its position in shares of Madrigal Pharmaceuticals by 2.7% in 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 lifted its position in shares of Madrigal Pharmaceuticals by 2.8% in 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 during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Activity

In other 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 value of $1,551,490.29. Following the sale, the chief executive officer now directly 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 23.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI reduced their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Oppenheimer cut their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. JMP Securities boosted their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. Finally, HC Wainwright reissued a “buy” rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $341.75.

Madrigal Pharmaceuticals Trading Up 0.4 %

Shares of MDGL opened at $217.79 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $120.65 and a 12-month high of $299.98. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of -9.43 and a beta of -0.44. The stock’s 50-day moving average price is $226.66 and its 200 day moving average price is $242.09.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating the consensus estimate of ($7.55) by $0.45. The company had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. During the same quarter in the prior year, the company posted ($4.69) earnings per share. The company’s revenue for the quarter was up 146280.0% on a year-over-year basis. As a group, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.38 earnings per share for the current year.

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.