Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Price Down 1.4%

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLGet Rating)’s stock price was down 1.4% on Friday . The stock traded as low as $65.17 and last traded at $65.31. Approximately 12 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 170,024 shares. The stock had previously closed at $66.25.

Analysts Set New Price Targets

Separately, B. Riley downgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $131.00 to $75.00 in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $161.00.

Madrigal Pharmaceuticals Trading Down 2.1 %

The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $70.51 and a 200 day simple moving average of $76.70. The firm has a market cap of $1.11 billion, a PE ratio of -4.30 and a beta of 1.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund lifted its position in shares of Madrigal Pharmaceuticals by 2.6% during the 1st quarter. New York State Common Retirement Fund now owns 8,406 shares of the biopharmaceutical company’s stock valued at $825,000 after buying an additional 210 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Madrigal Pharmaceuticals by 8.8% during the 1st quarter. Forum Financial Management LP now owns 2,976 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 240 shares in the last quarter. Credit Suisse AG lifted its position in shares of Madrigal Pharmaceuticals by 3.4% during the 2nd quarter. Credit Suisse AG now owns 8,473 shares of the biopharmaceutical company’s stock valued at $606,000 after buying an additional 279 shares in the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Madrigal Pharmaceuticals by 14.9% during the 4th quarter. Virtus ETF Advisers LLC now owns 2,270 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 294 shares in the last quarter. Finally, Congress Park Capital LLC lifted its position in shares of Madrigal Pharmaceuticals by 11.5% during the 1st quarter. Congress Park Capital LLC now owns 3,260 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

(Get Rating)

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

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