Orion Portfolio Solutions LLC Lowers Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Orion Portfolio Solutions LLC lowered its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,094 shares of the biopharmaceutical company’s stock after selling 90 shares during the period. Orion Portfolio Solutions LLC’s holdings in Madrigal Pharmaceuticals were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MDGL. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth $70,000. KBC Group NV increased its stake in Madrigal Pharmaceuticals by 73.5% during the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 258 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $216,000. D.A. Davidson & CO. acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $221,000. Finally, Atria Investments Inc purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $222,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Down 3.9 %

Madrigal Pharmaceuticals stock opened at $314.39 on Friday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $189.00 and a 1 year high of $377.46. The firm’s 50-day moving average is $333.68 and its 200-day moving average is $300.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company has a market cap of $6.94 billion, a P/E ratio of -12.54 and a beta of -0.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. On average, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the transaction, the vice president now directly owns 5,058 shares of the company’s stock, valued at $1,382,907.78. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James M. Daly sold 15,470 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the sale, the director now owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 in the last 90 days. 22.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on MDGL shares. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their price target for the company from $236.00 to $422.00 in a report on Thursday, February 27th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Citigroup lifted their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.44.

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.