Emerald Advisers LLC Decreases Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Emerald Advisers LLC cut its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 71.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,265 shares of the biopharmaceutical company’s stock after selling 69,499 shares during the quarter. Emerald Advisers LLC’s holdings in Madrigal Pharmaceuticals were worth $5,786,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $102,000. BNP Paribas purchased a new position in shares of Madrigal Pharmaceuticals during the first quarter worth $68,000. SG Americas Securities LLC acquired a new position in Madrigal Pharmaceuticals during the first quarter valued at $360,000. Oppenheimer & Co. Inc. purchased a new stake in Madrigal Pharmaceuticals in the first quarter valued at $326,000. Finally, Swiss National Bank grew its position in Madrigal Pharmaceuticals by 9.3% during the 1st quarter. Swiss National Bank now owns 23,400 shares of the biopharmaceutical company’s stock worth $6,249,000 after purchasing an additional 2,000 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $319.58 on Monday. The stock has a market capitalization of $6.94 billion, a P/E ratio of -12.74 and a beta of -0.46. The business has a 50 day simple moving average of $227.40 and a two-hundred day simple moving average of $242.80. Madrigal Pharmaceuticals, Inc. has a 12 month low of $133.99 and a 12 month high of $321.19. 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 announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share 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 business posted ($5.34) EPS. As a group, analysts predict that Madrigal Pharmaceuticals, Inc. will post -27.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Evercore ISI lowered their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. UBS Group lifted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday. HC Wainwright reissued a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Finally, Citigroup cut their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $344.33.

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.