3,137 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,137 shares of the biopharmaceutical company’s stock, valued at approximately $760,000.

Several other institutional investors also recently bought and sold shares of the company. Garda Capital Partners LP acquired a new stake in Madrigal Pharmaceuticals in the 1st quarter worth about $34,000. Ameritas Investment Partners Inc. lifted its stake in Madrigal Pharmaceuticals by 5.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 990 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 50 shares in the last quarter. Credit Suisse AG lifted its stake in Madrigal Pharmaceuticals by 4.8% in the 1st quarter. Credit Suisse AG now owns 10,490 shares of the biopharmaceutical company’s stock worth $2,541,000 after purchasing an additional 484 shares in the last quarter. Simplify Asset Management Inc. purchased a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $3,463,000. Finally, Pictet Asset Management SA lifted its stake in Madrigal Pharmaceuticals by 12.4% in the 1st quarter. Pictet Asset Management SA now owns 178,815 shares of the biopharmaceutical company’s stock worth $43,320,000 after purchasing an additional 19,661 shares in the last quarter. 79.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MDGL. B. Riley reissued a “neutral” rating and issued a $224.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday. Oppenheimer decreased their target price on shares of Madrigal Pharmaceuticals from $350.00 to $285.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. StockNews.com began coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $309.18.

Madrigal Pharmaceuticals Stock Down 0.3 %

Madrigal Pharmaceuticals stock opened at $184.50 on Wednesday. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $57.21 and a fifty-two week high of $322.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.02 and a current ratio of 3.02. The firm has a 50 day moving average price of $198.18 and a 200 day moving average price of $243.30. The company has a market capitalization of $3.41 billion, a PE ratio of -9.89 and a beta of -0.72.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($4.69) EPS for the quarter, missing the consensus estimate of ($4.59) by ($0.10). Research analysts expect that Madrigal Pharmaceuticals, Inc. will post -18.66 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 selective thyroid hormone receptor beta agonist, which is in Phase III clinical trials for treating NASH.