Cetera Investment Advisers Has $889,000 Holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Cetera Investment Advisers grew its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 85.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,882 shares of the biopharmaceutical company's stock after acquiring an additional 1,328 shares during the quarter. Cetera Investment Advisers' holdings in Madrigal Pharmaceuticals were worth $889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $164,000. KBC Group NV grew its stake in shares of Madrigal Pharmaceuticals by 73.5% in the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after purchasing an additional 258 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $210,000. Finally, Farringdon Capital Ltd. bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $215,000. Institutional investors own 98.50% of the company's stock.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value 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. The trade was a 89.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert E. Waltermire sold 1,227 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $341.07, for a total value of $418,492.89. Following the sale, the vice president now directly owns 3,728 shares of the company's stock, valued at $1,271,508.96. The trade was a 24.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,810 shares of company stock valued at $10,610,594 in the last three months. Corporate insiders own 21.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 1.5%

MDGL traded up $4.01 on Tuesday, reaching $271.57. 283,659 shares of the company traded hands, compared to its average volume of 383,615. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week 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 cap of $6.03 billion, a price-to-earnings ratio of -10.83 and a beta of -0.91. The stock's 50 day moving average price is $310.95 and its 200-day moving average price is $318.45.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to analysts' expectations of $112.79 million. During the same quarter in the prior year, the business posted ($7.38) earnings per share. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on MDGL shares. JMP Securities restated a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Canaccord Genuity Group raised their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. UBS Group boosted their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, B. Riley reissued a "buy" rating and issued a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $416.33.

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.