1,852 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,852 shares of the biopharmaceutical company’s stock, valued at approximately $393,000.

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its position in shares of Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after acquiring an additional 31 shares during the period. Signaturefd LLC raised its stake in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after purchasing an additional 40 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDGL. Evercore ISI cut their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. UBS Group lifted their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup cut their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two research 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. Based on data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.33.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $331.45 on Friday. The business’s 50-day moving average price is $260.42 and its 200-day moving average price is $257.90. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month high of $368.29. 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 the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter last year, the company posted ($5.34) earnings per share. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Fred B. Craves sold 3,400 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the transaction, the director now owns 14,600 shares in the company, valued at $5,114,380. The trade was a 18.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard S. Levy sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. This trade represents a 31.23 % 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 over the last ninety days. 22.80% of the stock is owned by company insiders.

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.