Dorsey & Whitney Trust CO LLC Purchases New Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Dorsey & Whitney Trust CO LLC acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 934 shares of the biopharmaceutical company’s stock, valued at approximately $262,000.

A number of other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. raised its position 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 buying an additional 98 shares in the last quarter. Signaturefd LLC raised its holdings in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $41,000. UMB Bank n.a. acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth $53,000. Finally, Quest Partners LLC grew its holdings in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.92% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $234.76 on Friday. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of -10.17 and a beta of -0.43. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $261.53 and its 200-day moving average price is $250.39. Madrigal Pharmaceuticals, Inc. has a 12 month low of $119.76 and a 12 month high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to analyst estimates of $4.25 million. The company’s revenue was up 146280.0% compared to the same quarter last year. During the same quarter last year, the company posted ($4.69) earnings per share. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -27.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Monday. JMP Securities increased their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. Citigroup lowered their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI reduced their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Wolfe Research assumed coverage on Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price target for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $343.83.

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.