Ensign Peak Advisors Inc Has $23.36 Million Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Ensign Peak Advisors Inc cut its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,373 shares of the biopharmaceutical company’s stock after selling 8,845 shares during the quarter. Ensign Peak Advisors Inc owned about 0.38% of Madrigal Pharmaceuticals worth $23,358,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Madrigal Pharmaceuticals by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 3,875 shares of the biopharmaceutical company’s stock worth $897,000 after purchasing an additional 142 shares in the last quarter. Norges Bank acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $33,686,000. UBS Group AG increased its holdings in shares of Madrigal Pharmaceuticals by 57.3% during the fourth quarter. UBS Group AG now owns 88,377 shares of the biopharmaceutical company’s stock valued at $20,449,000 after acquiring an additional 32,192 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Madrigal Pharmaceuticals by 19.0% in the 4th quarter. Hsbc Holdings PLC now owns 16,949 shares of the biopharmaceutical company’s stock worth $3,922,000 after purchasing an additional 2,706 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in Madrigal Pharmaceuticals by 5.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 296,480 shares of the biopharmaceutical company’s stock valued at $68,600,000 after purchasing an additional 16,390 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The shares were 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 directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.92% of the stock is owned by insiders.

Madrigal Pharmaceuticals Stock Down 3.6 %

MDGL opened at $233.49 on Monday. The firm has a market capitalization of $4.98 billion, a P/E ratio of -10.11 and a beta of -0.43. Madrigal Pharmaceuticals, Inc. has a one year low of $119.76 and a one year high of $299.98. The company has a fifty day moving average price of $255.47 and a 200-day moving average price of $250.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

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, topping the consensus estimate of ($7.55) by $0.45. The company had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. During the same quarter last year, the company posted ($4.69) earnings per share. The firm’s revenue for the quarter was up 146280.0% on a year-over-year basis. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDGL has been the topic of a number of analyst reports. JMP Securities upped their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday. Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price objective for the company. Evercore ISI reduced their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $343.83.

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.