Armistice Capital LLC Has $42.02 Million Stock Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Armistice Capital LLC trimmed its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 10.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,000 shares of the biopharmaceutical company’s stock after selling 18,000 shares during the period. Madrigal Pharmaceuticals makes up approximately 0.5% of Armistice Capital LLC’s holdings, making the stock its 29th largest holding. Armistice Capital LLC owned approximately 0.69% of Madrigal Pharmaceuticals worth $42,024,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised 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 in the last quarter. Signaturefd LLC raised its stake in shares of 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 buying an additional 39 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $41,000. UMB Bank n.a. bought a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $53,000. Finally, Quest Partners LLC boosted its position 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 valued at $60,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MDGL shares. Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price target for the company. Citigroup dropped their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, September 20th. Finally, Evercore ISI cut their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $343.83.

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 on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 23.92% of the stock is currently owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL opened at $216.21 on Thursday. The business has a fifty day moving average of $252.31 and a 200-day moving average of $249.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. Madrigal Pharmaceuticals, Inc. has a twelve month low of $119.76 and a twelve month high of $299.98. The firm has a market cap of $4.69 billion, a PE ratio of -9.36 and a beta of -0.43.

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

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.