Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Holdings Lessened by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC lessened its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,168 shares of the biopharmaceutical company’s stock after selling 1,965 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Madrigal Pharmaceuticals were worth $11,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pitcairn Co. boosted its holdings in shares of Madrigal Pharmaceuticals by 3.2% during the fourth quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company’s stock valued at $327,000 after acquiring an additional 33 shares during the period. Sanctuary Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.2% during the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company’s stock valued at $422,000 after purchasing an additional 62 shares during the period. Arizona State Retirement System grew its position in Madrigal Pharmaceuticals by 2.5% in the 4th quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company’s stock worth $1,165,000 after purchasing an additional 91 shares during the last quarter. Franklin Resources Inc. grew its position in Madrigal Pharmaceuticals by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock worth $298,000 after purchasing an additional 103 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Madrigal Pharmaceuticals by 5.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,881 shares of the biopharmaceutical company’s stock valued at $580,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MDGL. JMP Securities reissued a “market outperform” rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday. B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their price target for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup lifted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $409.00.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $326.79 on Friday. The firm has a 50-day moving average of $325.91 and a two-hundred day moving average of $310.63. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of -13.03 and a beta of -0.69. 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 $191.18 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) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. As a group, analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Robert E. Waltermire sold 1,227 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $341.07, for a total transaction of $418,492.89. Following the sale, the vice president now directly owns 3,728 shares of the company’s stock, valued at $1,271,508.96. The trade was a 24.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares of the company’s stock, valued at $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,810 shares of company stock worth $10,610,594. Insiders own 22.80% of the company’s stock.

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.