Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers lifted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 85.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,882 shares of the biopharmaceutical company's stock after buying 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDGL. FMR LLC grew its holdings in shares of Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock worth $267,792,000 after acquiring an additional 84,305 shares during the period. Geode Capital Management LLC grew its holdings in Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after purchasing an additional 4,923 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $114,717,000. Rock Springs Capital Management LP grew its holdings in Madrigal Pharmaceuticals by 0.8% in the fourth quarter. Rock Springs Capital Management LP now owns 265,212 shares of the biopharmaceutical company's stock valued at $81,836,000 after purchasing an additional 2,150 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Madrigal Pharmaceuticals by 1.4% in the fourth quarter. Bank of America Corp DE now owns 217,828 shares of the biopharmaceutical company's stock valued at $67,215,000 after buying an additional 2,940 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MDGL shares. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. B. Riley reiterated a "buy" rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. HC Wainwright raised their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. UBS Group upped their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Citigroup raised their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $416.33.

Madrigal Pharmaceuticals Trading Down 0.3%

Shares of Madrigal Pharmaceuticals stock traded down $0.94 during trading hours on Thursday, reaching $269.93. 371,591 shares of the company's stock were exchanged, compared to its average volume of 381,581. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $377.46. The company has a fifty day moving average of $308.27 and a 200-day moving average of $317.80. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of -10.76 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating the consensus estimate 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 previous year, the company posted ($7.38) earnings per share. Sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insider Activity

In related news, VP Robert E. Waltermire sold 14,113 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total value of $4,817,049.16. Following the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at approximately $1,272,440.96. This trade represents a 79.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.50% of the company's stock.

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.