New York State Common Retirement Fund Has $14.83 Million Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

New York State Common Retirement Fund boosted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,771 shares of the biopharmaceutical company's stock after purchasing an additional 3,956 shares during the period. New York State Common Retirement Fund owned approximately 0.20% of Madrigal Pharmaceuticals worth $14,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MDGL. Farther Finance Advisors LLC grew its holdings in Madrigal Pharmaceuticals by 825.0% in the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 99 shares during the period. GAMMA Investing LLC increased its position in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 67 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after purchasing an additional 44 shares during the period. Parallel Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 42.7% during the first quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 85 shares in the last quarter. Finally, Kozak & Associates Inc. purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth approximately $104,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 2,657 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $350.41, for a total value of $931,039.37. Following the completion of the sale, the director directly owned 461,044 shares in the company, valued at approximately $161,554,428.04. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul A. Friedman sold 2,700 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $350.48, for a total value of $946,296.00. Following the completion of the sale, the director owned 187,164 shares in the company, valued at approximately $65,597,238.72. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,977 shares of company stock worth $20,476,927. 21.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Madrigal Pharmaceuticals Trading Down 1.0%

Shares of NASDAQ:MDGL traded down $3.19 during mid-day trading on Monday, reaching $330.94. 232,216 shares of the company were exchanged, compared to its average volume of 360,539. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The firm's 50-day simple moving average is $291.89 and its 200 day simple moving average is $312.45. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of -18.33 and a beta of -1.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.91 and a quick ratio of 5.58.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $137.25 million for the quarter, compared to analysts' expectations of $112.79 million. During the same period in the prior year, the company earned ($7.38) earnings per share. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.