Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,730 shares of the biopharmaceutical company’s stock after selling 721 shares during the quarter. Raymond James & Associates’ holdings in Madrigal Pharmaceuticals were worth $4,565,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Montag A & Associates Inc. increased its stake in shares of Madrigal Pharmaceuticals by 223.3% in the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 134 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $55,000. Osaic Holdings Inc. increased its stake in shares of Madrigal Pharmaceuticals by 30.1% in the second quarter. Osaic Holdings Inc. now owns 333 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 77 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Madrigal Pharmaceuticals by 95.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 228 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $72,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $245.27 on Friday. Madrigal Pharmaceuticals, Inc. has a 1-year low of $119.76 and a 1-year high of $322.67. The firm has a market capitalization of $4.88 billion, a PE ratio of -12.30 and a beta of -0.47. The business’s 50 day moving average is $241.39 and its 200-day moving average is $206.65. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period in the prior year, the business earned ($4.98) earnings per share. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the transaction, the director now owns 10,298 shares in the company, valued at approximately $2,651,529.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the transaction, the director now owns 10,298 shares in the company, valued at approximately $2,651,529.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Rebecca Taub sold 27,506 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $243.36, for a total value of $6,693,860.16. Following the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at approximately $111,701,996.64. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock worth $31,362,420 in the last 90 days. 23.92% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on MDGL. HC Wainwright raised their price target on shares of Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, March 15th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and raised their price objective for the company from $155.00 to $270.00 in a research note on Friday, March 15th. JMP Securities raised their price objective on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Evercore ISI raised their price objective on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $377.40.

Madrigal Pharmaceuticals Company 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.