Victory Capital Management Inc. Acquires 40 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Victory Capital Management Inc. raised its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 2,292 shares of the biopharmaceutical company’s stock after buying an additional 40 shares during the period. Victory Capital Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sofinnova Investments Inc. raised its holdings in Madrigal Pharmaceuticals by 133.4% during the second quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company’s stock valued at $12,444,000 after acquiring an additional 25,388 shares during the period. Fiera Capital Corp bought a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth about $32,335,000. American Century Companies Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 13.7% in the second quarter. American Century Companies Inc. now owns 111,113 shares of the biopharmaceutical company’s stock worth $31,130,000 after purchasing an additional 13,361 shares during the last quarter. Cavalier Investments LLC bought a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth about $773,000. Finally, Rhumbline Advisers increased its holdings in shares of Madrigal Pharmaceuticals by 19.9% in the second quarter. Rhumbline Advisers now owns 25,351 shares of the biopharmaceutical company’s stock worth $7,102,000 after purchasing an additional 4,209 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. B. Riley lifted their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. UBS Group lifted 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. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, Evercore ISI dropped their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $347.33.

Insider Activity at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Fred B. Craves sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares of the company’s stock, valued at $5,114,380. This trade represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,763 shares of company stock worth $4,247,210. Company insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 1.0 %

Shares of NASDAQ:MDGL opened at $328.19 on Friday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The business has a 50 day simple moving average of $262.31 and a two-hundred day simple moving average of $258.71. The firm has a market capitalization of $7.16 billion, a PE ratio of -13.09 and a beta of -0.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the firm posted ($5.34) EPS. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

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.