Xponance Inc. Purchases 113 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Xponance Inc. grew its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,268 shares of the biopharmaceutical company’s stock after buying an additional 113 shares during the period. Xponance Inc.’s holdings in Madrigal Pharmaceuticals were worth $391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter worth about $70,000. Quest Partners LLC boosted its stake in shares of Madrigal Pharmaceuticals by 172.8% in the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 368 shares during the last quarter. KBC Group NV grew its position in shares of Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 258 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth approximately $216,000. Finally, D.A. Davidson & CO. acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $221,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 2.8 %

NASDAQ:MDGL opened at $333.82 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The business’s 50-day simple moving average is $330.95 and its 200-day simple moving average is $295.79. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The stock has a market capitalization of $7.37 billion, a PE ratio of -13.31 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MDGL has been the subject of a number of analyst reports. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. Citigroup upped their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, HC Wainwright upped their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.44.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now owns 1,912 shares of the company’s stock, valued at $664,324.40. This represents a 89.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Rebecca Taub sold 1,689 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $461,789.49. Following the transaction, the chief marketing officer now directly owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is owned by corporate insiders.

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.