Victory Capital Management Inc. Raises Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Victory Capital Management Inc. raised its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 35.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,920 shares of the biopharmaceutical company’s stock after buying an additional 499 shares during the period. Victory Capital Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $444,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC raised its holdings in Madrigal Pharmaceuticals by 454.5% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Montag A & Associates Inc. lifted its holdings in Madrigal Pharmaceuticals by 223.3% in the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 134 shares during the period. Quantbot Technologies LP bought a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter worth approximately $72,000. Xponance Inc. bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth $206,000. Finally, New Harbor Financial Group LLC purchased a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $211,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL opened at $229.58 on Friday. The firm has a fifty day simple moving average of $231.72 and a two-hundred day simple moving average of $223.92. The company has a quick ratio of 9.39, a current ratio of 9.39 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.89 billion, a P/E ratio of -9.94 and a beta of -0.33. Madrigal Pharmaceuticals, Inc. has a 52 week low of $119.76 and a 52 week high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period in the prior year, the company earned ($4.23) earnings per share. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MDGL. Citigroup lowered their target price on Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research report on Friday, March 15th. B. Riley lowered their price objective on Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. HC Wainwright cut their price objective on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, TD Cowen boosted their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $345.09.

Insider Buying and Selling

In other news, Director Fred B. Craves sold 22,489 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total value of $4,787,458.32. Following the sale, the director now owns 413,362 shares of the company’s stock, valued at $87,996,502.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Robert E. Waltermire sold 1,036 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $231.34, for a total value of $239,668.24. Following the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,272,370. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Fred B. Craves sold 22,489 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total value of $4,787,458.32. Following the completion of the transaction, the director now directly owns 413,362 shares in the company, valued at approximately $87,996,502.56. The disclosure for this sale can be found here. Insiders sold a total of 170,021 shares of company stock worth $36,389,547 over the last three months. 23.92% of the stock is 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.