Strs Ohio Sells 900 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Strs Ohio lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 52.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 800 shares of the biopharmaceutical company’s stock after selling 900 shares during the quarter. Strs Ohio’s holdings in Madrigal Pharmaceuticals were worth $185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MDGL. SG Americas Securities LLC acquired a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $648,000. Exchange Traded Concepts LLC increased its holdings in Madrigal Pharmaceuticals by 289.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 655 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 487 shares in the last quarter. Raymond James & Associates increased its holdings in Madrigal Pharmaceuticals by 34.9% during the 3rd quarter. Raymond James & Associates now owns 20,451 shares of the biopharmaceutical company’s stock valued at $2,987,000 after purchasing an additional 5,295 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Madrigal Pharmaceuticals by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,786 shares of the biopharmaceutical company’s stock valued at $8,585,000 after purchasing an additional 2,288 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Madrigal Pharmaceuticals by 16.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,039 shares of the biopharmaceutical company’s stock valued at $298,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Up 1.5 %

NASDAQ MDGL opened at $204.02 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $119.76 and a 12 month high of $322.67. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $4.06 billion, a PE ratio of -10.23 and a beta of -0.47. The stock has a 50-day simple moving average of $242.13 and a 200 day simple moving average of $214.05.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same quarter in the previous year, the business earned ($4.98) earnings per share. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -21.86 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MDGL. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, April 12th. HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. B. Riley upgraded Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $155.00 to $270.00 in a research report on Friday, March 15th. Evercore ISI boosted their target price on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Oppenheimer boosted their target price on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $356.73.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the transaction, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Richard S. Levy sold 11,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the transaction, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Rebecca Taub sold 2,676 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $245.99, for a total value of $658,269.24. Following the transaction, the chief marketing officer now directly owns 458,999 shares of the company’s stock, valued at $112,909,164.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,496 shares of company stock valued at $31,362,420. Company insiders own 23.92% 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.