Quest Partners LLC Purchases 368 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Quest Partners LLC grew its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 172.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 581 shares of the biopharmaceutical company’s stock after buying an additional 368 shares during the quarter. Quest Partners LLC’s holdings in Madrigal Pharmaceuticals were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MDGL. First Horizon Advisors Inc. grew its position in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 98 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares during the period. Comerica Bank lifted its holdings in Madrigal Pharmaceuticals by 615.4% during the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 320 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at about $163,000. Institutional investors own 98.50% of the company’s stock.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The trade was a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fred B. Craves sold 3,400 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares in the company, valued at $5,114,380. This represents a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,763 shares of company stock worth $4,247,210. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $331.45 on Friday. The firm’s fifty day simple moving average is $260.42 and its two-hundred day simple moving average is $257.90. The firm has a market capitalization of $7.23 billion, a P/E ratio of -13.22 and a beta of -0.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the business earned ($5.34) EPS. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MDGL. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Oppenheimer lowered their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Evercore ISI lowered their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $347.33.

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.