Proficio Capital Partners LLC Takes $5.33 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Proficio Capital Partners LLC purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 17,280 shares of the biopharmaceutical company’s stock, valued at approximately $5,332,000. Proficio Capital Partners LLC owned about 0.08% of Madrigal Pharmaceuticals at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares in the last quarter. Quest Partners LLC raised its stake in Madrigal Pharmaceuticals by 172.8% in the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after purchasing an additional 368 shares in the last quarter. KBC Group NV boosted its holdings in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 258 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $216,000. Finally, D.A. Davidson & CO. bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth approximately $221,000. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $313.47 on Tuesday. 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 current ratio of 5.98 and a quick ratio of 5.93. The company has a market cap of $6.84 billion, a price-to-earnings ratio of -12.50 and a beta of -0.38. The firm has a 50 day simple moving average of $322.98 and a 200 day simple moving average of $285.80.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. Research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDGL has been the subject of several recent research reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Citigroup upped their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. HC Wainwright raised their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research 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 research report on Friday, January 10th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their target price for the company from $236.00 to $422.00 in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $375.75.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 1,689 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the completion of the transaction, the chief marketing officer now directly owns 457,310 shares of the company’s stock, valued at $125,033,127.10. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James M. Daly sold 15,470 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the sale, the director now owns 1,912 shares in the company, valued at $664,324.40. This trade represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,560 shares of company stock worth $6,932,536. 22.80% of the stock is currently owned by insiders.

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.