New York State Common Retirement Fund Has $12.59 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

New York State Common Retirement Fund lessened its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) by 12.1% during the 4th quarter, Holdings Channel reports. The firm owned 40,815 shares of the biopharmaceutical company’s stock after selling 5,630 shares during the quarter. New York State Common Retirement Fund’s holdings in Madrigal Pharmaceuticals were worth $12,594,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MDGL. Erste Asset Management GmbH bought a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at about $49,749,000. Paulson & CO. Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after buying an additional 192,000 shares in the last quarter. Braidwell LP bought a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $39,010,000. State Street Corp raised its stake in shares of Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after acquiring an additional 143,038 shares during the last quarter. Finally, RTW Investments LP boosted its holdings in shares of Madrigal Pharmaceuticals by 4.1% in the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after acquiring an additional 77,825 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $322.14 on Tuesday. The firm has a fifty day moving average of $320.09 and a two-hundred day moving average of $282.67. 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 stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of -12.84 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $368.29.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. B. Riley raised their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, HC Wainwright increased their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $351.67.

Read Our Latest Stock Report on Madrigal Pharmaceuticals

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 103 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $34,529.72. Following the transaction, the vice president now owns 4,955 shares in the company, valued at approximately $1,661,114.20. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Rebecca Taub sold 648 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $217,235.52. Following the completion of the sale, the chief marketing officer now directly owns 456,662 shares of the company’s stock, valued at approximately $153,091,368.88. This trade represents a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,690 shares of company stock valued at $2,692,601 over the last three months. Company insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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