Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 10.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,347 shares of the biopharmaceutical company’s stock after acquiring an additional 1,753 shares during the period. New York State Common Retirement Fund’s holdings in Madrigal Pharmaceuticals were worth $4,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDGL. RA Capital Management L.P. acquired a new stake in Madrigal Pharmaceuticals during the third quarter worth about $29,865,000. Vanguard Group Inc. lifted its holdings in Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after buying an additional 107,816 shares during the last quarter. FMR LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 26.2% in the 3rd quarter. FMR LLC now owns 440,380 shares of the biopharmaceutical company’s stock worth $64,313,000 after purchasing an additional 91,337 shares during the last quarter. RTW Investments LP lifted its holdings in shares of Madrigal Pharmaceuticals by 39.7% in the 3rd quarter. RTW Investments LP now owns 309,485 shares of the biopharmaceutical company’s stock worth $45,197,000 after purchasing an additional 87,923 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 260.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 71,535 shares of the biopharmaceutical company’s stock worth $10,447,000 after purchasing an additional 51,670 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director James M. Daly sold 32,489 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now owns 1,198 shares of the company’s stock, valued at $123,118.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CMO Rebecca Taub sold 2,676 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 8th. The stock was sold at an average price of $245.99, for a total transaction of $658,269.24. Following the completion of the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at $112,909,164.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals stock in a transaction on 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 sale, the director now directly owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The disclosure for this sale can be found here. Insiders sold a total of 146,496 shares of company stock valued at $31,362,420 in the last three months. 23.92% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Stock Up 6.4 %

Shares of MDGL stock opened at $229.84 on Monday. The stock has a market cap of $4.89 billion, a PE ratio of -11.53 and a beta of -0.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38. The business’s fifty day moving average is $240.99 and its 200-day moving average is $215.73. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $313.11.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released 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 last year, the company earned ($4.98) earnings per share. Equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -21.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Canaccord Genuity Group raised their target price on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research report on Friday, March 15th. TD Cowen raised their target price on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Evercore ISI raised their target price on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. B. Riley upgraded Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and raised their target price for the company from $155.00 to $270.00 in a research report on Friday, March 15th. Finally, Oppenheimer raised their target price on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $356.73.

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 thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.