Y Intercept Hong Kong Ltd Acquires Shares of 1,736 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Y Intercept Hong Kong Ltd bought a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,736 shares of the biopharmaceutical company’s stock, valued at approximately $368,000.

A number of other institutional investors have also modified their holdings of MDGL. First Horizon Advisors Inc. grew its position in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 98 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares in the last quarter. Nisa Investment Advisors LLC boosted 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 acquiring an additional 68 shares in the last quarter. Quest Partners LLC increased its stake in shares of Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 209 shares during the period. Finally, Comerica Bank raised its holdings in Madrigal Pharmaceuticals by 615.4% during the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fred B. Craves sold 3,600 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $3,468,410. This represents a 24.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,000 shares of company stock valued at $3,830,836. Company insiders own 22.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MDGL shares. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. 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. HC Wainwright restated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. 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 report on Friday, November 1st. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $347.33.

Madrigal Pharmaceuticals Stock Up 2.1 %

Shares of NASDAQ:MDGL opened at $310.99 on Tuesday. The company has a market capitalization of $6.78 billion, a P/E ratio of -12.40 and a beta of -0.42. The stock’s fifty day simple moving average is $282.31 and its 200-day simple moving average is $265.36. Madrigal Pharmaceuticals, Inc. has a 52-week low of $168.25 and a 52-week high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (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 analyst estimates of $34.60 million. During the same period in the prior year, the business earned ($5.34) earnings per share. As a group, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal 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.