Cerity Partners LLC Invests $453,000 in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Cerity Partners LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,467 shares of the biopharmaceutical company’s stock, valued at approximately $453,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pitcairn Co. lifted its holdings in Madrigal Pharmaceuticals by 3.2% during the fourth quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company’s stock valued at $327,000 after purchasing an additional 33 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 5.2% during the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company’s stock valued at $422,000 after purchasing an additional 62 shares during the period. Arizona State Retirement System lifted its stake in shares of Madrigal Pharmaceuticals by 2.5% during the 4th quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company’s stock valued at $1,165,000 after buying an additional 91 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Madrigal Pharmaceuticals by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock worth $298,000 after buying an additional 103 shares during the period. Finally, Xponance Inc. increased its stake in Madrigal Pharmaceuticals by 9.8% in the 4th quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company’s stock worth $391,000 after buying an additional 113 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Up 2.6 %

NASDAQ MDGL opened at $302.72 on Wednesday. The stock has a 50 day moving average price of $327.09 and a 200-day moving average price of $308.46. Madrigal Pharmaceuticals, Inc. has a one year low of $189.00 and a one year high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company has a market capitalization of $6.68 billion, a P/E ratio of -12.07 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. As a group, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the sale, the chief executive officer now directly owns 54,303 shares in the company, valued at $18,204,537.72. This represents a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert E. Waltermire sold 14,113 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total value of $4,817,049.16. Following the completion of the sale, the vice president now directly owns 3,728 shares of the company’s stock, valued at $1,272,440.96. The trade was a 79.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,492 shares of company stock valued at $11,509,707. Insiders own 22.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MDGL. HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Citigroup boosted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and boosted their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $407.00.

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.