Fiera Capital Corp Purchases 24,757 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Key Points

• Fiera Capital Corp increased its stake in Madrigal Pharmaceuticals by 23.0% in Q1, owning approximately 0.60% of the company, valued at $43.78 million.
• Several institutional investors also adjusted their positions, with GAMMA Investing LLC showing the most significant increase at 131.4% in Q1.
• Research analysts have issued positive ratings on Madrigal Pharmaceuticals, with a consensus price target of $420.63 and most analysts rating the stock as a "Moderate Buy."

Fiera Capital Corp grew its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 23.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,179 shares of the biopharmaceutical company's stock after purchasing an additional 24,757 shares during the period. Fiera Capital Corp owned about 0.60% of Madrigal Pharmaceuticals worth $43,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Carrera Capital Advisors raised its holdings in shares of Madrigal Pharmaceuticals by 15.6% in the first quarter. Carrera Capital Advisors now owns 3,749 shares of the biopharmaceutical company's stock valued at $1,242,000 after purchasing an additional 506 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Madrigal Pharmaceuticals by 490.5% in the first quarter. LPL Financial LLC now owns 30,822 shares of the biopharmaceutical company's stock valued at $10,209,000 after purchasing an additional 25,602 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 24.0% in the first quarter. Assetmark Inc. now owns 5,183 shares of the biopharmaceutical company's stock valued at $1,717,000 after purchasing an additional 1,003 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $652,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $25,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL traded down $1.28 on Friday, hitting $301.24. The company had a trading volume of 121,504 shares, compared to its average volume of 369,569. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of -16.69 and a beta of -1.05. The stock has a 50 day moving average price of $294.56 and a 200 day moving average price of $311.29. The company has a current ratio of 5.91, a quick ratio of 5.58 and a debt-to-equity ratio of 0.17.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly 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. Madrigal Pharmaceuticals had a negative net margin of 123.38% and a negative return on equity of 50.54%. The business had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same period in the prior year, the company posted ($7.38) earnings per share. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Insider Activity

In related news, Director Paul A. Friedman sold 26,176 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $353.47, for a total value of $9,252,430.72. Following the transaction, the director directly owned 187,164 shares in the company, valued at approximately $66,156,859.08. This represents a 12.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rebecca Taub sold 26,444 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $353.47, for a total transaction of $9,347,160.68. Following the completion of the transaction, the director owned 461,044 shares in the company, valued at $162,965,222.68. This trade represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,377 shares of company stock worth $21,316,969 over the last 90 days. 21.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MDGL shares. JMP Securities restated a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Canaccord Genuity Group boosted their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, B. Riley restated a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $420.63.

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.