Emerald Advisers LLC Sells 2,371 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Emerald Advisers LLC lowered its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,737 shares of the biopharmaceutical company’s stock after selling 2,371 shares during the quarter. Emerald Advisers LLC owned about 0.23% of Madrigal Pharmaceuticals worth $23,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its stake in Madrigal Pharmaceuticals by 0.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock worth $1,349,000 after purchasing an additional 30 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Madrigal Pharmaceuticals by 6.6% in the second quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $212,000 after buying an additional 43 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of Madrigal Pharmaceuticals by 1.3% in the second quarter. Orion Porfolio Solutions LLC now owns 3,638 shares of the biopharmaceutical company’s stock valued at $1,101,000 after buying an additional 47 shares during the period. GAMMA Investing LLC boosted its stake in shares of Madrigal Pharmaceuticals by 114.3% in the third quarter. GAMMA Investing LLC now owns 90 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 48 shares during the period. Finally, Global Retirement Partners LLC grew its position in Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 51 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $496.97 on Thursday. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $615.00. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $560.46 and its 200 day simple moving average is $456.47. The firm has a market capitalization of $11.29 billion, a PE ratio of -38.20, a price-to-earnings-growth ratio of 4.90 and a beta of -1.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 41.50% and a negative net margin of 39.04%. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 4,173 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the sale, the chief financial officer owned 10,440 shares of the company’s stock, valued at approximately $6,037,869.60. The trade was a 28.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Shannon T. Kelley sold 692 shares of the stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $497.36, for a total value of $344,173.12. Following the completion of the transaction, the general counsel owned 8,481 shares of the company’s stock, valued at $4,218,110.16. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 123,436 shares of company stock valued at $65,479,642. Corporate insiders own 21.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MDGL. JMP Securities set a $527.00 price objective on Madrigal Pharmaceuticals in a report on Wednesday, November 5th. Zacks Research cut Madrigal Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. UBS Group set a $900.00 price target on Madrigal Pharmaceuticals in a research note on Friday, December 19th. Citizens Jmp increased their price objective on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Finally, Wolfe Research set a $579.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $632.64.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.