CIBC Private Wealth Group LLC Decreases Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

CIBC Private Wealth Group LLC reduced its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 66.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050 shares of the biopharmaceutical company’s stock after selling 2,050 shares during the period. CIBC Private Wealth Group LLC’s holdings in Madrigal Pharmaceuticals were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDGL. Geode Capital Management LLC increased its position in shares of Madrigal Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after buying an additional 5,801 shares in the last quarter. XTX Topco Ltd acquired a new stake in Madrigal Pharmaceuticals in the 3rd quarter valued at about $1,036,000. Newbridge Financial Services Group Inc. purchased a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $1,297,000. BNP Paribas Financial Markets raised its position in Madrigal Pharmaceuticals by 97.1% during the third quarter. BNP Paribas Financial Markets now owns 9,767 shares of the biopharmaceutical company’s stock worth $2,073,000 after acquiring an additional 4,811 shares during the last quarter. Finally, Barclays PLC lifted its stake in Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after buying an additional 24,783 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Down 3.9 %

MDGL stock opened at $314.39 on Friday. The company has a market capitalization of $6.94 billion, a P/E ratio of -12.54 and a beta of -0.68. The firm has a 50 day simple moving average of $333.68 and a 200-day simple moving average of $300.30. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a twelve month low of $189.00 and a twelve month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. On average, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 442 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the transaction, the vice president now directly owns 5,058 shares in the company, valued at approximately $1,382,907.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Rebecca Taub sold 1,689 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $461,789.49. Following the sale, the chief marketing officer now directly owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,900 shares of company stock worth $12,168,079. 22.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDGL. HC Wainwright raised their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Citigroup increased their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Finally, B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and boosted their price objective for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $378.44.

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.