HighTower Advisors LLC Sells 254 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

HighTower Advisors LLC decreased its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 15.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,423 shares of the biopharmaceutical company’s stock after selling 254 shares during the period. HighTower Advisors LLC’s holdings in Madrigal Pharmaceuticals were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MDGL. VSM Wealth Advisory LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth about $25,000. Accent Capital Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth about $25,000. Farther Finance Advisors LLC lifted its position in shares of Madrigal Pharmaceuticals by 825.0% in the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 99 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 67 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Madrigal Pharmaceuticals by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 44 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $437.85 on Friday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $439.00. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $9.72 billion, a PE ratio of -34.07 and a beta of -1.02. The stock’s 50-day moving average price is $335.47 and its 200-day moving average price is $319.81.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating analysts’ consensus estimates of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $158.94 million. During the same period last year, the firm earned ($7.10) EPS. The company’s quarterly revenue was up 1357.5% on a year-over-year basis. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity

In other news, Director Bros. Advisors Lp Baker acquired 59,901 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $385.16 per share, for a total transaction of $23,071,469.16. Following the acquisition, the director owned 1,947,968 shares in the company, valued at approximately $750,279,354.88. This represents a 3.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William John Sibold sold 7,616 shares of Madrigal Pharmaceuticals stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $400.18, for a total value of $3,047,770.88. Following the completion of the sale, the chief executive officer owned 109,753 shares in the company, valued at approximately $43,920,955.54. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 165,683 shares of company stock worth $61,921,142 and sold 301,740 shares worth $109,461,331. Insiders own 21.50% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the topic of a number of recent research reports. UBS Group restated a “buy” rating and set a $523.00 price objective (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday. Wall Street Zen raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. JMP Securities increased their target price on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 20th. Finally, TD Cowen increased their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $459.25.

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.