Pitcairn Co. Sells 64 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Pitcairn Co. cut its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,027 shares of the biopharmaceutical company’s stock after selling 64 shares during the quarter. Pitcairn Co.’s holdings in Madrigal Pharmaceuticals were worth $218,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Comerica Bank raised its holdings in Madrigal Pharmaceuticals by 615.4% in the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 320 shares during the period. Cetera Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $281,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $252,000. First Horizon Advisors Inc. lifted its holdings in Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the last quarter. Finally, Calamos Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 13.8% in the 2nd quarter. Calamos Advisors LLC now owns 4,112 shares of the biopharmaceutical company’s stock valued at $1,152,000 after purchasing an additional 499 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MDGL. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. HC Wainwright reiterated a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Citigroup decreased their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI dropped their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group increased their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $347.33.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. This represents a 18.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals 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 in the company, valued at approximately $13,626,927.21. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,763 shares of company stock valued at $4,247,210 in the last 90 days. 22.80% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $331.45 on Thursday. The stock has a market cap of $7.23 billion, a PE ratio of -13.22 and a beta of -0.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 12-month low of $168.25 and a 12-month high of $368.29. The business’s 50-day moving average price is $258.63 and its two-hundred day moving average price is $257.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the company earned ($5.34) earnings per share. As a group, analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share 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.