Stifel Financial Corp Has $574,000 Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Stifel Financial Corp lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,705 shares of the biopharmaceutical company’s stock after selling 263 shares during the quarter. Stifel Financial Corp’s holdings in Madrigal Pharmaceuticals were worth $574,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MDGL. Signaturefd LLC lifted its position in Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares during the period. Quest Partners LLC lifted its holdings in Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 209 shares during the period. Centaurus Financial Inc. bought a new position in Madrigal Pharmaceuticals in the second quarter valued at approximately $163,000. Finally, Amalgamated Bank grew its holdings in Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 102 shares during the period. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. B. Riley raised their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. UBS Group boosted their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer cut their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, HC Wainwright restated a “buy” rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Insiders Place Their Bets

In other news, Director Fred B. Craves sold 3,600 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $3,468,410. This represents a 24.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the sale, the director now directly owns 11,012 shares in the company, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $3,830,836 in the last quarter. 22.80% of the stock is currently owned by insiders.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $314.04 on Friday. The company has a fifty day moving average price of $296.96 and a 200 day moving average price of $268.92. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29. The firm has a market cap of $6.85 billion, a PE ratio of -12.52 and a beta of -0.42. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted 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 firm had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) earnings per share. Research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

About Madrigal Pharmaceuticals

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.