Madrigal Pharmaceuticals, Inc. $MDGL Stock Holdings Lessened by Fiera Capital Corp

Fiera Capital Corp reduced its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,622 shares of the biopharmaceutical company’s stock after selling 1,557 shares during the quarter. Fiera Capital Corp owned approximately 0.59% of Madrigal Pharmaceuticals worth $39,531,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its holdings in shares of Madrigal Pharmaceuticals by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company’s stock valued at $3,731,000 after acquiring an additional 31 shares in the last quarter. Park Avenue Securities LLC boosted its position in Madrigal Pharmaceuticals by 6.6% during the second quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company’s stock valued at $212,000 after purchasing an additional 43 shares during the last quarter. AlphaQuest LLC grew its stake in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter worth about $25,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $25,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Kenneth Bate sold 16,575 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $484.30, for a total transaction of $8,027,272.50. Following the completion of the sale, the director directly owned 2,627 shares in the company, valued at $1,272,256.10. This represents a 86.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Shannon T. Kelley sold 1,304 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $367.81, for a total value of $479,624.24. Following the completion of the transaction, the general counsel owned 9,173 shares in the company, valued at $3,373,921.13. The trade was a 12.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 165,683 shares of company stock worth $61,921,142 and sold 32,774 shares worth $14,798,408. Insiders own 21.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MDGL. Truist Financial assumed coverage on Madrigal Pharmaceuticals in a research note on Tuesday, October 14th. They issued a “buy” rating and a $580.00 price target for the company. Piper Sandler lifted their target price on shares of Madrigal Pharmaceuticals from $400.00 to $540.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Citizens Jmp boosted their target price on shares of Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. JMP Securities set a $527.00 price target on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 5th. Finally, Bank of America upgraded shares of Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and raised their price target for the company from $266.00 to $445.00 in a report on Monday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $539.17.

Madrigal Pharmaceuticals Stock Down 2.6%

Shares of Madrigal Pharmaceuticals stock opened at $514.93 on Friday. Madrigal Pharmaceuticals, Inc. has a 12-month low of $265.00 and a 12-month high of $544.25. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $443.96 and a two-hundred day moving average price of $363.40. The stock has a market capitalization of $11.69 billion, a P/E ratio of -40.07 and a beta of -1.04.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. Equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Madrigal Pharmaceuticals Company 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.