Geode Capital Management LLC Boosts Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Geode Capital Management LLC boosted its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 405,655 shares of the biopharmaceutical company’s stock after acquiring an additional 5,801 shares during the quarter. Geode Capital Management LLC owned 1.86% of Madrigal Pharmaceuticals worth $86,104,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 1,633.3% in the second 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 during the period. Signaturefd LLC grew its stake 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 acquiring an additional 39 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares during the period. Quest Partners LLC raised its stake in shares of Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Madrigal Pharmaceuticals in the second quarter valued at $163,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Up 0.2 %

Shares of NASDAQ MDGL opened at $293.41 on Friday. The business has a 50-day moving average price of $289.32 and a 200 day moving average price of $266.83. The stock has a market cap of $6.40 billion, a PE ratio of -11.70 and a beta of -0.42. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 52-week low of $168.25 and a 52-week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the company earned ($5.34) EPS. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.

Analysts Set New Price Targets

MDGL has been the topic of several recent research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Oppenheimer decreased their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. B. Riley increased their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two investment 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, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, 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 transaction of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares of the company’s stock, valued at $5,114,380. This represents a 18.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the sale, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,000 shares of company stock worth $3,830,836. 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.