Xponance Inc. Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Xponance Inc. acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 891 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Other large investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in Madrigal Pharmaceuticals by 454.5% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Montag A & Associates Inc. boosted its holdings in Madrigal Pharmaceuticals by 223.3% during the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 134 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Madrigal Pharmaceuticals by 95.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after acquiring an additional 228 shares during the period. Quantbot Technologies LP purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at $72,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Madrigal Pharmaceuticals by 289.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 655 shares of the biopharmaceutical company’s stock valued at $96,000 after acquiring an additional 487 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MDGL. Oppenheimer boosted their price objective on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Bank of America began coverage on Madrigal Pharmaceuticals in a report on Monday, April 22nd. They set an “underperform” rating and a $150.00 price objective for the company. TD Cowen boosted their price objective on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, March 15th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, April 12th. Finally, UBS Group upped their target price on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $356.73.

Insider Activity at Madrigal Pharmaceuticals

In other news, Director James M. Daly sold 32,489 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $102.77, for a total value of $3,338,894.53. Following the transaction, the director now directly owns 1,198 shares of the company’s stock, valued at $123,118.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Daly sold 32,489 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $102.77, for a total value of $3,338,894.53. Following the completion of the transaction, the director now directly owns 1,198 shares in the company, valued at $123,118.46. The disclosure for this sale can be found here. Insiders have sold 146,496 shares of company stock valued at $31,362,420 in the last ninety days. Corporate insiders own 23.92% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ:MDGL opened at $193.33 on Monday. The business’s 50-day moving average is $243.29 and its 200 day moving average is $213.14. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $322.67. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same quarter in the prior year, the business earned ($4.98) earnings per share. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -21.86 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.