US Bancorp DE Lowers Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

US Bancorp DE lessened its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 28.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563 shares of the biopharmaceutical company’s stock after selling 229 shares during the period. US Bancorp DE’s holdings in Madrigal Pharmaceuticals were worth $119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in MDGL. First Horizon Advisors Inc. boosted its stake in shares of 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 purchasing an additional 98 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Madrigal Pharmaceuticals during the first quarter valued at about $41,000. Signaturefd LLC increased 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 buying an additional 39 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $288.58 on Friday. Madrigal Pharmaceuticals, Inc. has a twelve month low of $160.15 and a twelve month high of $368.29. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $6.29 billion, a PE ratio of -11.51 and a beta of -0.46. The company’s 50 day moving average is $242.95 and its 200 day moving average is $250.20.

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

Analyst Ratings Changes

Several research firms recently issued reports on MDGL. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Evercore ISI reduced their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. B. Riley lifted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Citigroup cut their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Insider Buying and Selling

In other news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. This trade represents a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by insiders.

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.