Artisan Partners Limited Partnership Sells 99,377 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Artisan Partners Limited Partnership cut its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 32.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,469 shares of the biopharmaceutical company’s stock after selling 99,377 shares during the period. Artisan Partners Limited Partnership’s holdings in Madrigal Pharmaceuticals were worth $64,019,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MDGL. Kohmann Bosshard Financial Services LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $70,000. Quest Partners LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 172.8% in the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 368 shares during the period. KBC Group NV grew its stake in Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 258 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Madrigal Pharmaceuticals during the 4th quarter worth $216,000. Finally, D.A. Davidson & CO. purchased a new position in Madrigal Pharmaceuticals during the 4th quarter worth $221,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the transaction, the chief executive officer now owns 54,303 shares of the company’s stock, valued at approximately $18,204,537.72. This trade represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Rebecca Taub sold 1,689 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $461,789.49. Following the sale, the chief marketing officer now directly owns 457,310 shares in the company, valued at $125,033,127.10. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $12,168,079 in the last ninety days. 22.80% of the stock is owned by insiders.

Madrigal Pharmaceuticals Stock Up 1.0 %

Shares of Madrigal Pharmaceuticals stock opened at $337.27 on Friday. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The company has a market cap of $7.45 billion, a P/E ratio of -13.45 and a beta of -0.41. The firm’s 50 day moving average price is $332.24 and its 200-day moving average price is $296.08. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. On average, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from $236.00 to $422.00 in a report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Citigroup raised their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $378.44.

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.