Marshall Wace LLP Sells 62,907 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Marshall Wace LLP reduced its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 78.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,494 shares of the biopharmaceutical company’s stock after selling 62,907 shares during the period. Marshall Wace LLP owned 0.08% of Madrigal Pharmaceuticals worth $5,398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MDGL. Kohmann Bosshard Financial Services LLC bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $70,000. KBC Group NV increased its stake in Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 258 shares in the last quarter. Jump Financial LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter worth $210,000. Miracle Mile Advisors LLC bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $216,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at about $221,000. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MDGL shares. HC Wainwright boosted their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, Citigroup increased their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $407.00.

Insiders Place Their Bets

In related news, CEO William John Sibold sold 1,584 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 54,303 shares in the company, valued at $18,204,537.72. The trade was a 2.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert E. Waltermire sold 103 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $34,529.72. Following the completion of the transaction, the vice president now directly owns 4,955 shares in the company, valued at $1,661,114.20. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,492 shares of company stock valued at $11,509,707 over the last three months. 22.80% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Up 2.0 %

Shares of NASDAQ MDGL opened at $308.79 on Thursday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -12.31 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $326.52 and its 200-day moving average price is $308.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

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.