Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lowered its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,656 shares of the biopharmaceutical company's stock after selling 3,031 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.09% of Madrigal Pharmaceuticals worth $5,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp increased its stake in shares of Madrigal Pharmaceuticals by 5.5% during the fourth quarter. Northern Trust Corp now owns 155,883 shares of the biopharmaceutical company's stock worth $48,101,000 after buying an additional 8,111 shares during the period. Tudor Investment Corp ET AL increased its position in shares of Madrigal Pharmaceuticals by 837.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 10,327 shares of the biopharmaceutical company's stock valued at $3,187,000 after purchasing an additional 11,727 shares during the last quarter. Tri Locum Partners LP raised its holdings in shares of Madrigal Pharmaceuticals by 9.7% in the 4th quarter. Tri Locum Partners LP now owns 47,472 shares of the biopharmaceutical company's stock valued at $14,648,000 after purchasing an additional 4,185 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth $4,638,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth $15,095,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock traded down $12.22 during trading on Friday, reaching $315.48. The company's stock had a trading volume of 592,271 shares, compared to its average volume of 389,223. The company has a 50-day moving average price of $325.65 and a two-hundred day moving average price of $314.64. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.08 and a fifty-two week high of $377.46. The firm has a market cap of $7.00 billion, a PE ratio of -12.58 and a beta of -0.91. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating analysts' consensus estimates of ($3.62) by $0.30. The business had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. During the same quarter in the prior year, the firm posted ($7.38) earnings per share. On average, analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,227 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at approximately $1,271,508.96. The trade was a 24.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 30,810 shares of company stock worth $10,610,594 in the last quarter. Company insiders own 22.80% of the company's stock.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of analyst reports. B. Riley restated a "buy" rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday. Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday. JMP Securities reaffirmed a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a report on Friday. Finally, Citigroup upped their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $416.33.

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.