Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,210 shares of the biopharmaceutical company’s stock after purchasing an additional 122 shares during the period. Rockefeller Capital Management L.P. owned 0.08% of Madrigal Pharmaceuticals worth $5,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pitcairn Co. increased its position in Madrigal Pharmaceuticals by 3.2% during the 4th quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 33 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 5.2% during the fourth quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company’s stock valued at $422,000 after buying an additional 62 shares during the period. Arizona State Retirement System boosted its position in Madrigal Pharmaceuticals by 2.5% during the fourth quarter. Arizona State Retirement System now owns 3,774 shares of the biopharmaceutical company’s stock worth $1,165,000 after acquiring an additional 91 shares during the last quarter. Franklin Resources Inc. grew its stake in Madrigal Pharmaceuticals by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock worth $298,000 after acquiring an additional 103 shares during the period. Finally, Xponance Inc. raised its holdings in Madrigal Pharmaceuticals by 9.8% in the 4th quarter. Xponance Inc. now owns 1,268 shares of the biopharmaceutical company’s stock valued at $391,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Citigroup upped their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from $236.00 to $422.00 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 analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.44.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the stock in a transaction 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 sale, the director now directly owns 1,912 shares of the company’s stock, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $531,020.16. Following the completion of the transaction, the chief executive officer now directly owns 54,303 shares of the company’s stock, valued at $18,204,537.72. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,492 shares of company stock valued at $11,509,707. 22.80% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Trading Down 2.0 %

NASDAQ MDGL opened at $301.66 on Friday. The company’s fifty day simple moving average is $329.57 and its 200-day simple moving average is $305.88. The stock has a market cap of $6.66 billion, a P/E ratio of -12.03 and a beta of -0.69. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts’ consensus estimates 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. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

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.