Pitcairn Co. Has $327,000 Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Pitcairn Co. boosted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,060 shares of the biopharmaceutical company’s stock after buying an additional 33 shares during the quarter. Pitcairn Co.’s holdings in Madrigal Pharmaceuticals were worth $327,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $70,000. KBC Group NV increased its position in Madrigal Pharmaceuticals by 73.5% during the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 258 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $216,000. D.A. Davidson & CO. acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $221,000. Finally, Atria Investments Inc bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $222,000. 98.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director James M. Daly sold 15,470 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the sale, the director now owns 1,912 shares of the company’s stock, valued at $664,324.40. This trade represents a 89.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert E. Waltermire sold 442 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the sale, the vice president now directly owns 5,058 shares of the company’s stock, valued at approximately $1,382,907.78. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Trading Down 3.9 %

Shares of NASDAQ:MDGL opened at $314.39 on Monday. The business’s 50 day simple moving average is $333.68 and its 200 day simple moving average is $300.78. Madrigal Pharmaceuticals, Inc. has a 1 year low of $189.00 and a 1 year high of $377.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company has a market capitalization of $6.94 billion, a P/E ratio of -12.54 and a beta of -0.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its 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 company had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. On average, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDGL has been the subject of several research reports. B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their price target for the company from $236.00 to $422.00 in a report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Citigroup raised their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 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 assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus 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.